Midland Wealth Advisors LLC Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Midland Wealth Advisors LLC cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,338 shares of the financial services provider’s stock after selling 225 shares during the period. Midland Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $944,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after acquiring an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC lifted its position in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after purchasing an additional 4,787 shares during the period. M&T Bank Corp lifted its position in Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares during the period. Avantra Family Wealth Inc. purchased a new stake in Intercontinental Exchange in the fourth quarter worth approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its position in Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after purchasing an additional 61,110 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $170.40 on Monday. The stock has a market cap of $97.91 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $175.41. The firm has a fifty day moving average price of $159.46 and a 200-day moving average price of $159.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Analyst Ratings Changes

ICE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.80.

Insider Buying and Selling

In related news, insider Christopher Scott Edmonds sold 6,834 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the completion of the transaction, the insider now directly owns 17,972 shares of the company’s stock, valued at approximately $3,001,144.28. This trade represents a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 7,900 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,268 shares of company stock valued at $11,262,789. Corporate 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.