Crestwood Advisors Group LLC Invests $1.71 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Crestwood Advisors Group LLC bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, Holdings Channel reports. The institutional investor bought 11,483 shares of the financial services provider’s stock, valued at approximately $1,711,000.

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

Intercontinental Exchange Stock Up 0.4 %

ICE stock opened at $168.49 on Tuesday. The stock has a market cap of $96.81 billion, a P/E ratio of 35.25, a P/E/G ratio of 2.10 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock’s fifty day simple moving average is $155.70 and its two-hundred day simple moving average is $158.33. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $169.89.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.52 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%. Analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 37.66%.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the transaction, the insider now owns 17,972 shares of the company’s stock, valued at $3,001,144.28. This represents a 27.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,368 shares of company stock valued at $9,908,492 in the last three months. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ICE. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays raised 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. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com upgraded 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $178.80.

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.