Grant Private Wealth Management Inc Buys Shares of 2,450 Intercontinental Exchange, Inc. (NYSE:ICE)

Grant Private Wealth Management Inc purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,450 shares of the financial services provider’s stock, valued at approximately $365,000.

Several other hedge funds have also made changes to their positions in the business. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Lee Danner & Bass Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $34,000. BankPlus Trust Department purchased a new stake in Intercontinental Exchange during the 4th quarter worth about $40,000. Mountain Hill Investment Partners Corp. acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $45,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $51,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Barclays raised their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $182.47.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,563 shares of company stock worth $10,998,990. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 0.6 %

Shares of NYSE:ICE opened at $170.43 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $97.92 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $177.45. The firm has a fifty day moving average price of $168.31 and a 200 day moving average price of $160.78.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

About Intercontinental Exchange

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.