Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Reduced by Pillar Wealth Advisors LLC

Pillar Wealth Advisors LLC decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,787 shares of the financial services provider’s stock after selling 440 shares during the quarter. Intercontinental Exchange makes up about 1.0% of Pillar Wealth Advisors LLC’s holdings, making the stock its 24th biggest position. Pillar Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $25,000. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange during the third quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Finally, BKM Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $2.02 during trading on Tuesday, hitting $128.76. 2,294,518 shares of the company’s stock traded hands, compared to its average volume of 2,375,570. The company has a market cap of $73.73 billion, a PE ratio of 30.66, a PEG ratio of 2.15 and a beta of 1.02. The firm’s fifty day moving average price is $135.58 and its 200 day moving average price is $125.65. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00.

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

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.45 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.40%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a report on Thursday, April 4th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. UBS Group lifted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note 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 for the company in a research note on Friday, April 19th. Finally, Raymond James raised their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. Three 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange 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 completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at $1,640,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is currently owned by company insiders.

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.