Capital Investment Advisory Services LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,024 shares of the financial services provider's stock, valued at approximately $349,000.
A number of other large investors also recently modified their holdings of ICE. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $1,196,258,000. Royal Bank of Canada raised its stake in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after buying an additional 3,678,384 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after buying an additional 2,255,507 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Intercontinental Exchange by 26.6% during the fourth quarter. Janus Henderson Group PLC now owns 5,721,604 shares of the financial services provider's stock worth $852,578,000 after purchasing an additional 1,200,965 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In other Intercontinental Exchange news, Director Sharon Bowen sold 795 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the sale, the director owned 15,000 shares in the company, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares of the company's stock, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock worth $40,942,387 over the last 90 days. Company insiders own 1.00% of the company's stock.
Intercontinental Exchange Stock Performance
Shares of NYSE ICE opened at $183.01 on Tuesday. The business's 50-day moving average price is $177.54 and its two-hundred day moving average price is $166.98. 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 Inc. has a one year low of $140.32 and a one year high of $183.99. The company has a market capitalization of $104.98 billion, a P/E ratio of 37.89, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 EPS. Analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's payout ratio is 39.75%.
Analysts Set New Price Targets
ICE has been the topic of a number of recent analyst reports. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Barclays upped their price target on 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 dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $188.46.
Get Our Latest Report on Intercontinental Exchange
About Intercontinental Exchange
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).
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