Howe & Rusling Inc. Has $14.14 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Howe & Rusling Inc. reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 110,113 shares of the financial services provider’s stock after selling 841 shares during the quarter. Intercontinental Exchange makes up approximately 1.5% of Howe & Rusling Inc.’s portfolio, making the stock its 17th biggest position. Howe & Rusling Inc.’s holdings in Intercontinental Exchange were worth $14,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Vanguard Group Inc. raised its position in Intercontinental Exchange by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after purchasing an additional 1,012,034 shares during the last quarter. Wellington Management Group LLP boosted its stake in Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the period. Northern Trust Corp boosted its stake in shares of Intercontinental Exchange by 3.9% during the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after buying an additional 282,963 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Intercontinental Exchange by 21.1% during the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock worth $668,231,000 after buying an additional 1,058,536 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Intercontinental Exchange by 3.7% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock valued at $533,292,000 after purchasing an additional 173,236 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded up $0.51 during trading hours on Wednesday, hitting $129.27. 1,958,471 shares of the stock were exchanged, compared to its average volume of 2,368,063. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $74.02 billion, a PE ratio of 30.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The company’s fifty day simple moving average is $135.58 and its two-hundred day simple moving average is $125.65. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business 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 firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently declared 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 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. This represents a $1.80 annualized dividend and a dividend yield of 1.39%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at $1,640,296. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s 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 in the company, valued at approximately $6,417,450.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,832 shares of company stock worth $21,499,127. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America cut 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 note on Friday, April 19th. Citigroup increased their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Piper Sandler increased their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. UBS Group increased their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, February 12th. Finally, Raymond James increased their price target 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 investment 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, the company has a consensus rating of “Moderate Buy” and an average price target of $148.08.

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.