Dohj LLC Acquires New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Dohj LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,852 shares of the financial services provider's stock, valued at approximately $492,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after buying an additional 538,670 shares in the last quarter. Geode Capital Management LLC raised its stake in 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 raised its stake in 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 acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $1,196,258,000. Finally, Northern Trust Corp raised its stake in 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. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. 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. 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 research report on Monday, May 5th. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus target price of $188.46.

Intercontinental Exchange Stock Down 0.4%

ICE stock traded down $0.78 during midday trading on Friday, hitting $178.30. The stock had a trading volume of 2,500,290 shares, compared to its average volume of 3,020,161. The firm has a market cap of $102.28 billion, a price-to-earnings ratio of 37.30, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The business has a 50-day moving average of $170.32 and a two-hundred day moving average of $164.06. Intercontinental Exchange, Inc. has a 52-week low of $133.97 and a 52-week high of $180.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 2,630 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now directly owns 21,364 shares of the company's stock, valued at $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president now directly owns 27,313 shares in the company, valued at approximately $4,847,511.24. The trade was 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 have sold 227,954 shares of company stock valued at $40,796,663. 1.00% of the stock is currently owned by corporate insiders.

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.