On June 26, 2023, Gradient Investments LLC announced that it had grown its holdings in Intercontinental Exchange, Inc. by 6.1% during the first quarter of the year. This is according to the latest disclosure filed with the Securities and Exchange Commission (SEC). The institutional investor now owns 152,759 shares of the financial services provider’s stock after acquiring an additional 8,742 shares during the period. The value of these holdings was pegged at $15,931,000 at the end of the reporting period.
Several research firms have issued reports on ICE recently. Keefe, Bruyette & Woods decreased their price objective on Intercontinental Exchange from $125.00 to $122.00 and gave a “market perform” rating for the company in a report released on Wednesday, March 1st. StockNews.com initiated coverage on Intercontinental Exchange in a research note released on Thursday, May 18th with a “hold” rating for the company.
Raymond James raised their price target on Intercontinental Exchange from $126.00 to $127.00 and gave the company a “strong-buy” rating in a research note released on Thursday, April 6th. UBS Group also raised their price target from $130.00 to $135.00 while Deutsche Bank Aktiengesellschaft lowered theirs from $122.00 to $120.00 in notes released on Friday, May 5th.
Data from Bloomberg.com indicates that four investment analysts have rated ICE’s stock as a hold rating while five have given it a buy rating and one has assigned it a strong buy rating with an average rating of “Moderate Buy”. Its current average target price is pegged at $129.89.
ICE opened trading on June 26 at $111.09; having a market capitalization of $62.20 billion with its stock hitting highs of $113.15 and lows of $88.60 in the past 12 months. The stock has a price-to-earnings ratio of 43.06, a PEG ratio of 2.11 and a beta of 0.93 while having a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.78.
In conclusion, Intercontinental Exchange Inc remains an organization with an attractive stock portfolio to investors based on investigations by notable research firms alongside its present market information. Assets invested in this financial services provider have experienced considerable growth over time in value and volume for its shareholders as we can see from the recent report by Gradient Investments LLC to the SEC regarding its most recent acquisition during the first quarter in 2023.
If you are considering investing in ICE in any way, shape or form, it is strongly recommended that you contact accredited brokers or consult with your financial advisor before making any investment decisions based on this report or any other news article containing up-to-date market analysis and other crucial metrics specific to this corporation so as to make informed decisions based on verifiable data provided without exception by trusted sources within the fields related to finance and investments globally.
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Investors and Insiders Make Moves at Intercontinental Exchange (ICE)
Intercontinental Exchange (ICE) has been making waves in the financial services sector, with several large investors modifying their holdings in the company. RB Capital Management LLC grew its shares in ICE by 3.2% during Q1, while United Bank purchased an additional 422 shares taking their total holdings to 15,988 shares worth $2,112,000. U.S Capital Wealth Advisors LLC also increased their holdings by 13.5% and now own shares worth $245,000. Furthermore, Prudential PLC bought a new position in ICE worth approximately $1,679,000 during Q1. Notably, institutional investors own 87.28% of the company’s stock.
In recent insider activity at ICE, CFO Warren Gardiner completed two transactions selling off a total of 1000 shares, allowing him to pocket over $110K. Meanwhile CEO Jeffrey C. Sprecher sold over 85K of his Intercontinental Exchange shares earlier this year for a total value of over $9 million.
Despite this shift in ownership and insider activity at ICE, research firms are still bullish on the company’s future potential with average rating on Bloomberg.com being ‘Moderate Buy’. Equities research analysts are expecting that the firm will create earnings per share worth 5.48 for the current fiscal year following its recent release of strong quarterly earnings data.
Furthermore ICE declared a quarterly dividend of $0.42 per share to be paid out on June 30th to shareholders who were issued record on June 15th – representing a $1.68 annualized dividend – which provides investors with an attractive yield of 1.51%.
