Invera Wealth Advisors LLC Sells 97 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Invera Wealth Advisors LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,686 shares of the financial services provider’s stock after selling 97 shares during the period. Intercontinental Exchange comprises 2.9% of Invera Wealth Advisors LLC’s holdings, making the stock its 14th largest holding. Invera Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $3,495,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 2.2% in the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after buying an additional 1,012,034 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Intercontinental Exchange by 35.0% in the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock worth $2,105,994,000 after acquiring an additional 4,251,371 shares during the last quarter. Capital World Investors boosted its stake in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock worth $1,238,559,000 after purchasing an additional 2,530,119 shares during the period. Parnassus Investments LLC grew its holdings in Intercontinental Exchange by 23.8% during the 4th quarter. Parnassus Investments LLC now owns 8,429,851 shares of the financial services provider’s stock valued at $1,082,646,000 after purchasing an additional 1,621,737 shares during the last quarter. Finally, Northern Trust Corp raised its position in Intercontinental Exchange by 3.9% in the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after purchasing an additional 282,963 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on ICE shares. Piper Sandler boosted their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Citigroup upped their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Bank of America reduced their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. UBS Group boosted their target price on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, Raymond James raised their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Stock Down 0.7 %

Shares of ICE traded down $0.92 during trading hours on Monday, hitting $130.78. The company had a trading volume of 1,557,866 shares, compared to its average volume of 2,376,438. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $74.89 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The company’s fifty day moving average price is $135.74 and its two-hundred day moving average price is $125.52.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the sale, the insider now owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock worth $21,454,204 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

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.