Global Assets Advisory LLC Invests $314,000 in Intercontinental Exchange Inc. (NYSE:ICE)

Global Assets Advisory LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,966 shares of the financial services provider's stock, valued at approximately $314,000.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after acquiring an additional 538,670 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 acquiring an additional 327,637 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of 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 acquiring an additional 5,204,309 shares in the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp grew its holdings in shares of 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 acquiring an additional 655,247 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $180.61 on Thursday. Intercontinental Exchange Inc. has a one year low of $136.21 and a one year high of $181.65. The business has a fifty day moving average price of $174.03 and a 200-day moving average price of $165.23. 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 $103.60 billion, a P/E ratio of 37.39, a PEG ratio of 1.95 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly 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 firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company earned $1.48 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of the 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 now owns 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 2,101,705 shares in the company, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 227,954 shares of company stock valued at $40,796,663 over the last three months. Company insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

ICE has been the subject of several research reports. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $188.46.

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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