Mosaic Family Wealth Partners LLC Buys New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Mosaic Family Wealth Partners LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,883 shares of the financial services provider’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Annapolis Financial Services LLC grew its holdings in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC bought a new position in shares of Intercontinental Exchange in the first quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in shares of Intercontinental Exchange by 82.3% in the first quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 93 shares in the last quarter. Finally, Stuart Chaussee & Associates Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $28,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $1.15 on Friday, reaching $149.85. The company’s stock had a trading volume of 4,482,290 shares, compared to its average volume of 2,931,175. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.49 and a 12-month high of $153.28. The company has a market capitalization of $85.95 billion, a P/E ratio of 34.37, a PEG ratio of 2.68 and a beta of 1.06. The stock’s 50 day simple moving average is $141.10 and its 200-day simple moving average is $136.46.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the business posted $1.43 earnings per share. The firm’s revenue was up 22.7% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.45 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.20%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Mayur Kapani sold 395 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $141.13, for a total value of $55,746.35. Following the transaction, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the transaction, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,992 shares of company stock worth $9,197,801. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the company from $143.00 to $167.00 in a report on Monday, July 1st. Argus reissued a “buy” rating and set a $153.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, May 21st. Bank of America reduced their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday, April 19th. Barclays increased their price objective on Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $153.86.

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.