Nicholson Wealth Management Group LLC Acquires 4,808 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Nicholson Wealth Management Group LLC boosted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 109.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,197 shares of the financial services provider’s stock after purchasing an additional 4,808 shares during the period. Nicholson Wealth Management Group LLC’s holdings in Intercontinental Exchange were worth $1,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Tandem Investment Advisors Inc. lifted its stake in Intercontinental Exchange by 9.1% during the fourth quarter. Tandem Investment Advisors Inc. now owns 815,688 shares of the financial services provider’s stock worth $121,546,000 after purchasing an additional 68,291 shares during the period. ING Groep NV bought a new position in Intercontinental Exchange during the fourth quarter worth about $3,867,000. Dash Acquisitions Inc. lifted its stake in Intercontinental Exchange by 3.7% during the fourth quarter. Dash Acquisitions Inc. now owns 66,942 shares of the financial services provider’s stock worth $10,633,000 after purchasing an additional 2,412 shares during the period. Advyzon Investment Management LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $392,000. Finally, Handelsbanken Fonder AB lifted its stake in Intercontinental Exchange by 6.4% during the fourth quarter. Handelsbanken Fonder AB now owns 257,248 shares of the financial services provider’s stock worth $38,333,000 after purchasing an additional 15,534 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. The trade was a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange 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 sale, the insider now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 66,196 shares of company stock valued at $10,840,972. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $167.00 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $95.95 billion, a P/E ratio of 34.94, a P/E/G ratio of 2.11 and a beta of 1.11. The firm has a 50 day simple moving average of $155.18 and a 200 day simple moving average of $157.99. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.78.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.71 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm 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. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 37.66%.

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.