Magnolia Capital Advisors LLC Acquires 564 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Magnolia Capital Advisors LLC boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,389 shares of the financial services provider’s stock after acquiring an additional 564 shares during the quarter. Magnolia Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $824,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Nordea Investment Management AB lifted its position in shares of Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Intercontinental Exchange by 7.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after purchasing an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Intercontinental Exchange by 9.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock valued at $158,738,000 after purchasing an additional 105,042 shares during the last quarter. First County Bank CT lifted its holdings in shares of Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after buying an additional 100 shares in the last quarter. Finally, CIC Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $221,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The stock was purchased at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,491 shares of company stock worth $21,454,204 in the last three months. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $0.24 during mid-day trading on Wednesday, reaching $132.57. 2,498,395 shares of the company traded hands, compared to its average volume of 2,392,151. The company’s 50 day moving average price is $136.07 and its 200-day moving average price is $125.00. The firm has a market cap of $75.91 billion, a PE ratio of 31.56, a PEG ratio of 2.15 and a beta of 1.02. 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, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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 analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 EPS. On average, equities analysts expect that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.45 per share. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.36%. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ICE shares. Raymond James raised their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Bank of America lowered their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Morgan Stanley lifted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.08.

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.