Gilliland Jeter Wealth Management LLC Acquires Shares of 4,732 Intercontinental Exchange, Inc. (NYSE:ICE)

Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 4,732 shares of the financial services provider’s stock, valued at approximately $608,000.

A number of other institutional investors have also added to or reduced their stakes in ICE. Coastline Trust Co grew its holdings in Intercontinental Exchange by 9.8% during the 3rd quarter. Coastline Trust Co now owns 4,031 shares of the financial services provider’s stock valued at $443,000 after buying an additional 360 shares in the last quarter. Oak Thistle LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $627,000. Asset Management One Co. Ltd. boosted its position in shares of Intercontinental Exchange by 2.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 241,946 shares of the financial services provider’s stock valued at $26,619,000 after acquiring an additional 6,184 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of Intercontinental Exchange by 5.4% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 5,944 shares of the financial services provider’s stock valued at $654,000 after acquiring an additional 303 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. boosted its position in shares of Intercontinental Exchange by 0.3% during the 3rd quarter. Campbell Newman Asset Management Inc. now owns 195,537 shares of the financial services provider’s stock valued at $21,513,000 after acquiring an additional 533 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE ICE traded down $0.12 on Friday, hitting $131.70. The company had a trading volume of 2,406,708 shares, compared to its average volume of 2,148,893. The firm has a market capitalization of $75.41 billion, a P/E ratio of 31.36, a PEG ratio of 2.16 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 company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The business has a 50 day moving average of $135.86 and a two-hundred day moving average of $125.19.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm 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 firm’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the firm earned $1.25 EPS. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is currently 42.86%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Rosenblatt Securities raised their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Morgan Stanley raised their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup raised their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three equities 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.08.

Insider Activity at Intercontinental Exchange

In related 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 sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now owns 17,242 shares in the company, valued at approximately $2,276,461.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 over the last three months. 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.