Apollon Wealth Management LLC Buys 6,893 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Apollon Wealth Management LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 99.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,857 shares of the financial services provider’s stock after purchasing an additional 6,893 shares during the period. Apollon Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 2.2% during 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 buying an additional 1,012,034 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares in the last quarter. Northern Trust Corp lifted its holdings in 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 in the last quarter. Invesco Ltd. boosted its position in Intercontinental Exchange by 21.1% in the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after buying an additional 1,058,536 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Intercontinental Exchange by 3.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock worth $533,292,000 after acquiring an additional 173,236 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ICE. Rosenblatt Securities reaffirmed a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. UBS Group boosted their price objective 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. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Barclays dropped their target price on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.92.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $0.79 during trading on Wednesday, reaching $132.93. 325,650 shares of the stock were exchanged, compared to its average volume of 2,394,265. The firm has a market cap of $76.25 billion, a PE ratio of 30.67, a PEG ratio of 2.14 and a beta of 1.02. The stock has a 50-day moving average price of $134.78 and a 200-day moving average price of $126.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. Intercontinental Exchange’s quarterly revenue was up 20.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.41 earnings per share. Research analysts expect that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s payout ratio is currently 41.28%.

Insider Buying and Selling

In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly 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 sold 157,832 shares of company stock valued at $21,499,127 over the last quarter. 1.10% of the stock is owned by company insiders.

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.