Tounjian Advisory Partners LLC Makes New $4.79 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Tounjian Advisory Partners LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 27,772 shares of the financial services provider's stock, valued at approximately $4,791,000. Intercontinental Exchange makes up approximately 0.9% of Tounjian Advisory Partners LLC's investment portfolio, making the stock its 28th biggest position.

Several other hedge funds also recently modified their holdings of the company. Sierra Ocean LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $25,000. REAP Financial Group LLC boosted its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $29,000. Redwood Park Advisors LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $34,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on ICE shares. Morgan Stanley raised their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays upped their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a 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 note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.

Intercontinental Exchange Stock Up 0.8%

Shares of NYSE ICE traded up $1.49 during mid-day trading on Thursday, reaching $178.99. The company had a trading volume of 1,841,488 shares, compared to its average volume of 3,014,035. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $102.67 billion, a price-to-earnings ratio of 37.45, a PEG ratio of 2.10 and a beta of 1.12. The stock has a fifty day moving average of $169.28 and a two-hundred day moving average of $163.78. Intercontinental Exchange, Inc. has a 12-month low of $133.97 and a 12-month high of $180.89.

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, topping analysts' consensus estimates 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 net margin of 23.42% and a return on equity of 12.95%. The company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.48 EPS. As a group, equities research analysts expect 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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is 39.75%.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel now owns 48,480 shares of the company's stock, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer now owns 2,101,705 shares of the company's stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 226,354 shares of company stock valued at $40,512,695. Insiders own 1.00% of the company's stock.

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.