Broadway Wealth Solutions Inc. Invests $301,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Broadway Wealth Solutions Inc. bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, HoldingsChannel reports. The fund bought 2,017 shares of the financial services provider’s stock, valued at approximately $301,000.

A number of other large investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange in the third quarter worth approximately $31,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange in the fourth quarter worth approximately $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $176.56 on Friday. The firm has a market capitalization of $101.44 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 2.10 and a beta of 1.08. The stock has a fifty day moving average of $166.61 and a 200 day moving average of $160.48. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now directly owns 164,041 shares in the company, valued at approximately $27,183,234.11. This trade represents a 3.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,563 shares of company stock valued at $10,998,990. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of research reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Barclays upped their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $178.80.

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.