Arcadia Investment Management Corp MI Has $16.08 Million Position in Intercontinental Exchange Inc. (NYSE:ICE)

Arcadia Investment Management Corp MI reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,235 shares of the financial services provider's stock after selling 2,780 shares during the quarter. Intercontinental Exchange comprises about 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ICE. REAP Financial Group LLC lifted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the period. Tsfg LLC raised its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth $29,000. Rakuten Securities Inc. raised its holdings in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the period. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange in the first quarter worth $31,000. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ICE. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Bank of America dropped their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays raised their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average price target of $192.58.

Intercontinental Exchange Stock Up 0.0%

Intercontinental Exchange stock traded up $0.05 during mid-day trading on Thursday, reaching $182.21. The company's stock had a trading volume of 624,974 shares, compared to its average volume of 2,975,182. The business's 50 day simple moving average is $178.11 and its 200 day simple moving average is $167.17. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $183.99. The company has a market capitalization of $104.52 billion, a price-to-earnings ratio of 37.71, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

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

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insiders Place Their Bets

In related news, Director Sharon Bowen sold 795 shares of the stock in a transaction 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 sale, the director owned 15,000 shares in the company, valued at approximately $2,749,500. This represents a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock worth $40,942,387 in the last quarter. Company 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.