Burling Wealth Partners LLC Makes New $2.64 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Burling Wealth Partners LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,722 shares of the financial services provider's stock, valued at approximately $2,641,000.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after acquiring an additional 538,670 shares during the last quarter. Geode Capital Management LLC boosted its stake in Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the period. Norges Bank acquired a new position in Intercontinental Exchange in the fourth quarter valued at $1,196,258,000. Independent Franchise Partners LLP raised its holdings in shares of Intercontinental Exchange by 20.8% in the fourth quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider's stock valued at $918,026,000 after buying an additional 1,062,904 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock worth $865,455,000 after buying an additional 390,332 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company's stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,931 shares of company stock worth $10,492,868. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America dropped their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. 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 stock presently has an average rating of "Moderate Buy" and an average price target of $182.47.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $0.42 during mid-day trading on Friday, reaching $163.40. The company had a trading volume of 1,642,782 shares, compared to its average volume of 2,930,081. The stock's 50-day simple moving average is $166.46 and its 200-day simple moving average is $160.44. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. 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 company has a market capitalization of $93.87 billion, a P/E ratio of 34.18, a P/E/G ratio of 2.10 and a beta of 1.09.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.18%. Intercontinental Exchange's payout ratio is 40.17%.

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.