Alpha Cubed Investments LLC Has $11.03 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Alpha Cubed Investments LLC grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,914 shares of the financial services provider’s stock after buying an additional 5,433 shares during the period. Alpha Cubed Investments LLC’s holdings in Intercontinental Exchange were worth $11,034,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ICE. OFI Invest Asset Management bought a new position in Intercontinental Exchange during the 3rd quarter worth $25,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange in the third quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $28,000. Finally, BKM Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $31,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Raymond James raised their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Morgan Stanley lifted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. UBS Group lifted their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $148.08.

Insiders Place Their Bets

In other Intercontinental Exchange news, 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 value of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Intercontinental Exchange news, 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 value of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the sale, the senior vice president now owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Down 1.5 %

Shares of Intercontinental Exchange stock traded down $2.02 during midday trading on Tuesday, reaching $128.76. The company had a trading volume of 2,294,518 shares, compared to its average volume of 2,375,570. The stock has a fifty day moving average price of $135.74 and a 200 day moving average price of $125.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $73.73 billion, a PE ratio of 31.14, a P/E/G ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 earnings per share. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is presently 42.86%.

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.