Arcadia Investment Management Corp MI Sells 2,780 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Arcadia Investment Management Corp MI cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 93,235 shares of the financial services provider's stock after selling 2,780 shares during the period. Intercontinental Exchange comprises approximately 2.9% of Arcadia Investment Management Corp MI's holdings, 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 SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC boosted its position in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares during the period. Tsfg LLC increased its position in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at $29,000. Rakuten Securities Inc. grew its holdings in shares of Intercontinental Exchange by 595.8% in the 1st 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 last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the first quarter worth $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $180.90 on Wednesday. The business has a fifty day moving average of $177.83 and a 200 day moving average of $167.07. Intercontinental Exchange Inc. has a one year low of $140.32 and a one year high of $183.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $103.77 billion, a P/E ratio of 37.45, a PEG ratio of 1.97 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its 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. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio is 39.75%.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. This represents a 5.53% 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 over the last 90 days. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. Morgan Stanley upped their target price on shares of 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 increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday. Barclays lifted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Bank of America decreased 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $189.62.

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.

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