Arcadia Investment Management Corp MI trimmed its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,235 shares of the financial services provider's stock after selling 2,780 shares during the period. Intercontinental Exchange makes up approximately 2.9% of Arcadia Investment Management Corp MI's portfolio, making the stock its 9th biggest position. Arcadia Investment Management Corp MI's holdings in Intercontinental Exchange were worth $16,083,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after purchasing an additional 538,670 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after purchasing an additional 327,637 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Intercontinental Exchange by 132.9% in 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 purchasing an additional 5,204,309 shares in the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp lifted its holdings in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after purchasing an additional 655,247 shares in the last quarter. 89.30% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on the company. Morgan Stanley raised their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Bank of America dropped their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Barclays upped their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.
Check Out Our Latest Stock Report on Intercontinental Exchange
Insiders Place Their Bets
In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock valued at $40,942,387 in the last quarter. 1.00% of the stock is currently owned by company insiders.
Intercontinental Exchange Stock Performance
Intercontinental Exchange stock traded down $0.36 during trading on Thursday, hitting $181.80. The stock had a trading volume of 1,894,320 shares, compared to its average volume of 2,980,389. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $183.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock's 50 day moving average is $178.33 and its two-hundred day moving average is $167.39. The stock has a market cap of $104.28 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. Intercontinental Exchange's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, analysts predict 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 was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's payout ratio is 39.75%.
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.
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