Ironsides Asset Advisors LLC Invests $228,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Ironsides Asset Advisors LLC bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,418 shares of the financial services provider’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Wolff Wiese Magana LLC grew its position in Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC acquired a new stake in Intercontinental Exchange during the 2nd quarter valued at approximately $25,000. Finally, New Millennium Group LLC purchased a new position in shares of Intercontinental Exchange during the second quarter worth $25,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the transaction, the director now owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last three months. 1.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ICE has been the topic of several analyst reports. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Piper Sandler raised their price target on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $155.79 on Thursday. The company has a market cap of $89.45 billion, a P/E ratio of 36.92, a P/E/G ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $107.76 and a twelve month high of $167.99. The company’s 50-day moving average price is $161.71 and its 200-day moving average price is $148.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company posted $1.46 EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.09 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 42.65%.

Intercontinental Exchange 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.