IFM Investors Pty Ltd Buys 11,386 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

IFM Investors Pty Ltd grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 115,279 shares of the financial services provider's stock after buying an additional 11,386 shares during the period. IFM Investors Pty Ltd's holdings in Intercontinental Exchange were worth $18,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. REAP Financial Group LLC boosted its stake 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 last quarter. Tsfg LLC raised its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares during the period. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Rakuten Securities Inc. boosted its position in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange in the 1st quarter valued at $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE ICE opened at $183.11 on Friday. The company has a market capitalization of $105.04 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The firm's 50 day moving average is $176.76 and its 200-day moving average is $166.29. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12-month low of $139.61 and a 12-month high of $183.76.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Insiders Place Their Bets

In other news, Director Sharon Bowen sold 795 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. The trade was a 5.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director directly owned 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% 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 company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ICE. Morgan Stanley raised their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Barclays lifted 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. Finally, Bank of America lowered 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. 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 presently has an average rating of "Moderate Buy" and a consensus price target of $188.46.

About Intercontinental Exchange

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.

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc. (NYSE:ICE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.