Demars Financial Group LLC Purchases 213,746 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Demars Financial Group LLC boosted its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 70.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 515,877 shares of the financial services provider's stock after buying an additional 213,746 shares during the quarter. Demars Financial Group LLC owned approximately 0.09% of Intercontinental Exchange worth $88,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. NBT Bank N A NY raised its position in Intercontinental Exchange by 8.8% in the 1st quarter. NBT Bank N A NY now owns 13,464 shares of the financial services provider's stock worth $2,323,000 after buying an additional 1,091 shares during the last quarter. Chicago Capital LLC raised its holdings in Intercontinental Exchange by 0.7% during the 1st quarter. Chicago Capital LLC now owns 571,924 shares of the financial services provider's stock valued at $98,657,000 after buying an additional 4,106 shares during the period. Blackston Financial Advisory Group LLC increased its stake in Intercontinental Exchange by 20.5% in the first quarter. Blackston Financial Advisory Group LLC now owns 3,840 shares of the financial services provider's stock worth $662,000 after purchasing an additional 652 shares during the period. Grove Bank & Trust increased its stake in Intercontinental Exchange by 55.0% in the first quarter. Grove Bank & Trust now owns 4,286 shares of the financial services provider's stock worth $739,000 after purchasing an additional 1,520 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of Intercontinental Exchange by 12.1% during the 1st quarter. QRG Capital Management Inc. now owns 19,943 shares of the financial services provider's stock worth $3,440,000 after buying an additional 2,145 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent analyst reports. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Morgan Stanley lifted their target price 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. Finally, Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Buying and Selling

In other news, CAO James W. Namkung sold 612 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now directly owns 13,220 shares of the company's stock, valued at approximately $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $283,968.00. Following the completion of the sale, the senior vice president now owns 27,313 shares of the company's stock, valued at $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 227,954 shares of company stock worth $40,796,663. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.78 during trading hours on Wednesday, reaching $180.21. 397,968 shares of the company traded hands, compared to its average volume of 3,010,976. The firm's 50-day moving average is $171.38 and its 200-day moving average is $164.33. The stock has a market cap of $103.38 billion, a P/E ratio of 37.32, a P/E/G ratio of 1.95 and a beta of 1.12. 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 1-year low of $134.78 and a 1-year high of $182.48.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating 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 firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) 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.