Meridian Wealth Advisors LLC Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Meridian Wealth Advisors LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,932 shares of the financial services provider’s stock after purchasing an additional 1,256 shares during the period. Meridian Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $4,229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. OFI Invest Asset Management purchased a new stake in Intercontinental Exchange during the third quarter valued at approximately $25,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Finally, BKM Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ICE shares. Keefe, Bruyette & Woods dropped their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Morgan Stanley upped their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. 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 research report on Monday, February 12th. Barclays dropped their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Finally, Bank of America dropped their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $147.92.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $133.66 on Thursday. The company has a market capitalization of $76.67 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The firm’s 50-day moving average is $134.78 and its 200 day moving average is $126.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm’s revenue was up 20.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.41 EPS. Research analysts predict that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be given a $0.45 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 annualized dividend and a yield of 1.35%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange 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 sale, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,867 shares of company stock valued at $20,843,598. Company insiders own 1.10% of the company’s stock.

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.