TBH Global Asset Management LLC Invests $278,000 in Intercontinental Exchange Inc. (NYSE:ICE)

TBH Global Asset Management LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,610 shares of the financial services provider's stock, valued at approximately $278,000.

Other institutional investors have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC lifted its position in shares of Intercontinental Exchange by 17.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after buying an additional 63 shares during the last quarter. MV Capital Management Inc. increased its holdings in shares of Intercontinental Exchange by 15.7% in the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 68 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock worth $465,000 after purchasing an additional 71 shares during the last quarter. Quadcap Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 1.2% during the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock worth $918,000 after purchasing an additional 71 shares during the period. Finally, Colonial Trust Co SC boosted its position in Intercontinental Exchange by 11.7% in the fourth quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock valued at $102,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock worth $40,796,663 in the last 90 days. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

ICE traded up $1.89 on Monday, hitting $183.64. 3,213,979 shares of the company's stock were exchanged, compared to its average volume of 3,001,269. Intercontinental Exchange Inc. has a fifty-two week low of $136.25 and a fifty-two week high of $183.78. The stock has a market cap of $105.34 billion, a price-to-earnings ratio of 38.02, a P/E/G ratio of 1.96 and a beta of 1.12. The firm has a 50-day moving average price of $174.95 and a 200-day moving average price of $165.68. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the prior year, the company earned $1.48 EPS. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Morgan Stanley raised their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

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.