Brown Miller Wealth Management LLC Has $1.96 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Brown Miller Wealth Management LLC raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,226 shares of the financial services provider’s stock after purchasing an additional 134 shares during the period. Brown Miller Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,956,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. OFI Invest Asset Management bought a new position in Intercontinental Exchange during the third quarter valued at about $25,000. Jones Financial Companies Lllp bought a new position in Intercontinental Exchange in the 3rd quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth $28,000. BKM Wealth Management LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $31,000. Finally, First Capital Advisors Group LLC. bought a new position in Intercontinental Exchange in the 2nd quarter worth approximately $35,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ICE. Raymond James upped their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Citigroup raised their target price on Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $133.00 to $139.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. Barclays lifted their price target on shares of Intercontinental Exchange from $148.00 to $153.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $145.83.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $125.90, for a total value of $7,351,049.20. Following the sale, the chief executive officer now owns 1,152,375 shares in the company, valued at approximately $145,084,012.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at $2,164,763.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $125.90, for a total value of $7,351,049.20. Following the sale, the chief executive officer now directly owns 1,152,375 shares of the company’s stock, valued at $145,084,012.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,253 shares of company stock worth $20,486,424. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.3 %

NYSE ICE traded up $0.39 during trading on Thursday, hitting $137.37. The stock had a trading volume of 2,596,799 shares, compared to its average volume of 2,425,026. The company has a market capitalization of $78.66 billion, a PE ratio of 32.71, a P/E/G ratio of 2.45 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12 month low of $99.84 and a 12 month high of $140.43. The company’s 50-day moving average price is $134.20 and its two-hundred day moving average price is $121.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. The business’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.91 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. Intercontinental Exchange’s payout ratio is currently 42.86%.

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.