Carnegie Investment Counsel Has $3.45 Million Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Carnegie Investment Counsel increased its stake in Intercontinental Exchange by 8.2%, holding a total of 19,990 shares valued at approximately $3.45 million as of the latest SEC filing.
• Multiple analysts have raised their price targets for Intercontinental Exchange, with Barclays updating their target from $198.00 to $206.00, reflecting a positive outlook on the stock.
• Intercontinental Exchange recently announced a quarterly dividend of $0.48 per share, translating to an annualized dividend of $1.92 and a yield of 1.04%.

Carnegie Investment Counsel grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,990 shares of the financial services provider's stock after buying an additional 1,522 shares during the quarter. Carnegie Investment Counsel's holdings in Intercontinental Exchange were worth $3,448,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Brighton Jones LLC lifted its position in Intercontinental Exchange by 51.3% during the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares in the last quarter. LPL Financial LLC lifted its position in Intercontinental Exchange by 13.9% during the 4th quarter. LPL Financial LLC now owns 454,708 shares of the financial services provider's stock worth $67,757,000 after buying an additional 55,453 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Intercontinental Exchange during the 4th quarter worth about $294,000. Modern Wealth Management LLC lifted its position in Intercontinental Exchange by 31.5% during the 4th quarter. Modern Wealth Management LLC now owns 1,839 shares of the financial services provider's stock worth $274,000 after buying an additional 441 shares in the last quarter. Finally, TIAA Trust National Association lifted its position in Intercontinental Exchange by 1.5% during the 4th quarter. TIAA Trust National Association now owns 11,689 shares of the financial services provider's stock worth $1,742,000 after buying an additional 170 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Bank of America dropped their target price 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 upped their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, 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 report on Monday, May 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $1.38 on Monday, reaching $183.06. 683,115 shares of the company's stock were exchanged, compared to its average volume of 2,960,944. The company has a fifty day moving average of $179.80 and a 200-day moving average of $170.17. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $185.29. The company has a market capitalization of $105.01 billion, a price-to-earnings ratio of 37.86, a PEG ratio of 2.02 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $1.48 EPS. The business's revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business 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 1.05%. Intercontinental Exchange's payout ratio is 39.75%.

Insiders Place Their Bets

In related news, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at $2,379,600. This represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the 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 completion of the transaction, the general counsel directly owned 48,480 shares of the company's stock, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,119 shares of company stock worth $40,524,217 over the last 90 days. Insiders own 1.00% of the company's stock.

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.