Broadway Wealth Solutions Inc. Purchases New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Broadway Wealth Solutions Inc. acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,017 shares of the financial services provider’s stock, valued at approximately $301,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter worth $1,196,258,000. Janus Henderson Group PLC boosted its holdings in Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after acquiring an additional 3,460,096 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $406,728,000. Swedbank AB raised its holdings in Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its position in shares of Intercontinental Exchange by 1,237.7% in the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after purchasing an additional 1,574,386 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ICE. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays boosted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Price Performance

ICE opened at $176.56 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The company has a market capitalization of $101.44 billion, a price-to-earnings ratio of 36.94, a P/E/G ratio of 2.10 and a beta of 1.08. The firm’s fifty day moving average price is $166.61 and its two-hundred day moving average price is $160.48. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $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 have sold 66,563 shares of company stock valued at $10,998,990. Company 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.