Berry Wealth Group LP Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Berry Wealth Group LP bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,534 shares of the financial services provider’s stock, valued at approximately $454,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Finally, BKM Wealth Management LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the 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 completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders sold a total of 157,832 shares of company stock worth $21,499,127 in the last three months. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ICE. Piper Sandler upped their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Barclays boosted their price target on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Citigroup boosted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Finally, Rosenblatt Securities upped their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $148.08.

Intercontinental Exchange Trading Up 0.6 %

NYSE ICE traded up $0.76 during trading on Wednesday, hitting $129.52. The company had a trading volume of 837,160 shares, compared to its average volume of 2,356,118. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The company has a market cap of $74.17 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 company’s fifty day moving average is $135.58 and its 200-day moving average is $125.65.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the business earned $1.25 EPS. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.39%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) 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.