Maxwell Wealth Strategies Inc. Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Maxwell Wealth Strategies Inc. boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 21.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,213 shares of the financial services provider’s stock after purchasing an additional 3,193 shares during the quarter. Intercontinental Exchange comprises approximately 1.2% of Maxwell Wealth Strategies Inc.’s portfolio, making the stock its 23rd biggest position. Maxwell Wealth Strategies Inc.’s holdings in Intercontinental Exchange were worth $2,875,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after purchasing an additional 3,536,913 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Intercontinental Exchange during the second quarter worth $124,508,000. Janus Henderson Group PLC boosted its position in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after buying an additional 687,817 shares in the last quarter. James Hambro & Partners purchased a new stake in shares of Intercontinental Exchange in the second quarter valued at about $93,340,000. Finally, Assenagon Asset Management S.A. grew its holdings in Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after buying an additional 584,400 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America lifted their price target on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Piper Sandler lifted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research report on Monday, October 14th. Barclays decreased their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $174.13.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $155.55 on Friday. The company has a market cap of $89.31 billion, a P/E ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The business has a 50 day moving average of $160.97 and a two-hundred day moving average of $149.92.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the firm posted $1.46 EPS. Intercontinental Exchange’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 42.65%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 1,941 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total value of $311,899.29. Following the completion of the transaction, the director now directly owns 26,908 shares in the company, valued at $4,323,846.52. This trade represents a 6.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

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.