Roffman Miller Associates Inc. PA Acquires 36,846 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Roffman Miller Associates Inc. PA grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 86.8% in the fourth quarter, HoldingsChannel reports. The fund owned 79,319 shares of the financial services provider’s stock after buying an additional 36,846 shares during the period. Roffman Miller Associates Inc. PA’s holdings in Intercontinental Exchange were worth $10,187,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Nordea Investment Management AB boosted its position in shares of Intercontinental Exchange by 27.3% in the fourth 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. raised its holdings in 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 valued at $13,956,000 after buying an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 valued at $158,738,000 after buying an additional 105,042 shares during the last quarter. First County Bank CT raised its holdings in 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 valued at $419,000 after buying an additional 100 shares during the last quarter. Finally, CIC Wealth LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $221,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. Piper Sandler increased their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Rosenblatt Securities raised their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Raymond James raised their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. UBS Group raised their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded up $0.31 during mid-day trading on Friday, reaching $132.13. 819,400 shares of the company’s stock were exchanged, compared to its average volume of 2,366,081. The firm has a market capitalization of $75.66 billion, a price-to-earnings ratio of 31.38, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week 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. The firm has a 50-day moving average price of $135.97 and a two-hundred day moving average price of $125.05.

Intercontinental Exchange (NYSE:ICE) last released its 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 business’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.25 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current 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 paid a $0.45 dividend. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is currently 42.86%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total value of $8,011,417.48. Following the transaction, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,491 shares of company stock worth $21,454,204. Company insiders own 1.10% of the company’s stock.

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.