Howe & Rusling Inc. Sells 841 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Howe & Rusling Inc. lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 110,113 shares of the financial services provider’s stock after selling 841 shares during the period. Intercontinental Exchange makes up approximately 1.5% of Howe & Rusling Inc.’s holdings, making the stock its 17th biggest position. Howe & Rusling Inc.’s holdings in Intercontinental Exchange were worth $14,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its stake in 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 stake in shares of Intercontinental Exchange by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after purchasing an additional 8,320 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Intercontinental Exchange by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after purchasing an additional 105,042 shares during the period. First County Bank CT lifted its stake in shares of Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 100 shares during the period. Finally, RWA Wealth Partners LLC lifted its stake in shares of Intercontinental Exchange by 106.2% in the 4th quarter. RWA Wealth Partners LLC now owns 22,928 shares of the financial services provider’s stock worth $2,945,000 after purchasing an additional 11,809 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The shares were bought at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the sale, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,832 shares of company stock worth $21,499,127 over the last three months. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ICE shares. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Citigroup increased their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Bank of America cut their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Three research 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 company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Trading Up 0.4 %

Shares of NYSE:ICE traded up $0.51 on Wednesday, hitting $129.27. 1,958,471 shares of the company’s stock were exchanged, compared to its average volume of 2,368,063. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The stock has a market capitalization of $74.02 billion, a price-to-earnings ratio of 30.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The business’s 50 day simple moving average is $135.58 and its two-hundred day simple moving average is $125.65. 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 earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same period last year, the company earned $1.25 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors 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 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s payout ratio is presently 42.86%.

Intercontinental Exchange Company 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.