Castle Hook Partners LP Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Castle Hook Partners LP bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 200,843 shares of the financial services provider's stock, valued at approximately $29,928,000.

Several other institutional investors have also added to or reduced their stakes in ICE. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $33,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange during the fourth quarter valued at $34,000. BankPlus Trust Department bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $40,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $44,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $2.26 on Friday, reaching $178.73. 3,313,509 shares of the company's stock were exchanged, compared to its average volume of 2,947,979. The company has a fifty day moving average of $166.93 and a 200-day moving average of $161.00. The company has a market capitalization of $102.52 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.10 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a twelve month low of $131.79 and a twelve month high of $180.60.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.48 earnings per share. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares of the company's stock, valued at approximately $3,396,876. This trade represents a 10.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 6,834 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were 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 in the company, valued at $3,001,144.28. The trade was a 27.55 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,368 shares of company stock valued at $7,077,789. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ICE. JPMorgan Chase & Co. lowered their price objective 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. Barclays lifted their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $185.93.

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.