Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Raised by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 16.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 13,893 shares of the financial services provider’s stock after purchasing an additional 1,989 shares during the period. AlphaStar Capital Management LLC’s holdings in Intercontinental Exchange were worth $2,070,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ICE. Wealth Enhancement Advisory Services LLC increased its stake in Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares during the period. M&T Bank Corp grew its holdings in shares of Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after acquiring an additional 11,648 shares in the last quarter. Avantra Family Wealth Inc. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $702,000. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in Intercontinental Exchange by 1.6% during the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after purchasing an additional 4,973 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. UBS Group boosted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research note on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Stock Performance

ICE opened at $166.95 on Friday. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $153.35 and its two-hundred day moving average price is $156.93. The firm has a market capitalization of $95.86 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.75.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 37.66%.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,795 shares of company stock valued at $2,120,572. Insiders own 1.10% of the company’s stock.

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.