Advisors Preferred LLC Takes Position in Intercontinental Exchange Inc. (NYSE:ICE)

Advisors Preferred LLC purchased a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 11,350 shares of the financial services provider's stock, valued at approximately $1,946,000.

Other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $1,196,258,000. Royal Bank of Canada increased its stake in shares of Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC boosted its position in shares of Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock valued at $677,465,000 after purchasing an additional 3,678,384 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after purchasing an additional 2,255,507 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction dated 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 owned 48,480 shares of the company's stock, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 226,119 shares of company stock valued at $40,524,217. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. 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. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Barclays boosted their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $194.42.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $0.94 during mid-day trading on Friday, reaching $184.52. 2,588,779 shares of the stock traded hands, compared to its average volume of 1,851,322. The stock has a market capitalization of $105.84 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 2.01 and a beta of 1.11. 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 12-month low of $142.29 and a 12-month high of $185.30. The business's 50-day moving average is $179.80 and its 200-day moving average is $169.84.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. As a group, sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.04%. Intercontinental Exchange's payout ratio is 39.75%.

Intercontinental Exchange 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.