Pillar Wealth Advisors LLC Sells 440 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Pillar Wealth Advisors LLC cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,787 shares of the financial services provider’s stock after selling 440 shares during the period. Intercontinental Exchange accounts for 1.0% of Pillar Wealth Advisors LLC’s holdings, making the stock its 24th largest position. Pillar Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in ICE. Fortitude Family Office LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $25,000. Finally, BKM Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $31,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the topic of a number of analyst reports. Piper Sandler increased their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Morgan Stanley boosted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Rosenblatt Securities upped 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. Finally, Raymond James raised their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $148.08.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 $2,544,198.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $2.02 on Tuesday, reaching $128.76. The company had a trading volume of 2,294,518 shares, compared to its average volume of 2,375,570. The stock has a market capitalization of $73.73 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. 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’s 50-day moving average is $135.58 and its 200 day moving average is $125.65. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The company’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $1.25 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is presently 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.