1,740 Shares in Intercontinental Exchange Inc. (NYSE:ICE) Purchased by Optivise Advisory Services LLC

Optivise Advisory Services LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm bought 1,740 shares of the financial services provider's stock, valued at approximately $300,000.

A number of other hedge funds have also made changes to their positions in the company. Governors Lane LP increased its position in Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after acquiring an additional 59,500 shares in the last quarter. National Pension Service increased its position in Intercontinental Exchange by 19.1% in the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock valued at $184,644,000 after acquiring an additional 198,311 shares in the last quarter. Hahn Capital Management LLC increased its position in Intercontinental Exchange by 69.8% in the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock valued at $10,600,000 after acquiring an additional 29,233 shares in the last quarter. Tema Etfs LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $1,107,000. Finally, Otter Creek Advisors LLC increased its position in Intercontinental Exchange by 102.2% in the 4th quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider's stock valued at $4,952,000 after acquiring an additional 16,797 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Stock Up 0.7%

Intercontinental Exchange stock opened at $180.97 on Wednesday. The company's 50 day simple moving average is $171.38 and its 200 day simple moving average is $164.33. Intercontinental Exchange Inc. has a fifty-two week low of $134.78 and a fifty-two week high of $182.48. The firm has a market capitalization of $103.81 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping 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 business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $1.48 EPS. Intercontinental Exchange's quarterly revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer now owns 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president now directly owns 27,313 shares in the company, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,954 shares of company stock valued at $40,796,663 in the last 90 days. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ICE has been the subject of several research reports. Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Bank of America lowered their price objective 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. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

Intercontinental Exchange Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.