Intercontinental Exchange Inc. (NYSE:ICE) is Compass Capital Management Inc.'s 3rd Largest Position

Compass Capital Management Inc. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375,587 shares of the financial services provider's stock after selling 18,548 shares during the quarter. Intercontinental Exchange makes up 4.3% of Compass Capital Management Inc.'s investment portfolio, making the stock its 3rd largest position. Compass Capital Management Inc. owned about 0.07% of Intercontinental Exchange worth $64,789,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Ritholtz Wealth Management raised its position in shares of Intercontinental Exchange by 52.3% in the first quarter. Ritholtz Wealth Management now owns 7,953 shares of the financial services provider's stock worth $1,372,000 after buying an additional 2,732 shares in the last quarter. Dohj LLC bought a new position in Intercontinental Exchange in the 1st quarter worth about $492,000. Opal Wealth Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $3,417,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Intercontinental Exchange by 12.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,169 shares of the financial services provider's stock valued at $6,067,000 after acquiring an additional 3,760 shares during the last quarter. Finally, Tritonpoint Wealth LLC boosted its position in shares of Intercontinental Exchange by 4.5% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,289 shares of the financial services provider's stock valued at $740,000 after acquiring an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley upped their price target 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. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Barclays increased their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note 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. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $188.46.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer now owns 13,220 shares of the company's stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 68,315 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.25, for a total transaction of $12,245,463.75. Following the sale, the chief executive officer now directly owns 1,162,908 shares of the company's stock, valued at approximately $208,451,259. This trade represents a 5.55% 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 worth $40,796,663. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.8%

Shares of ICE stock traded down $1.42 during mid-day trading on Wednesday, hitting $179.57. The company's stock had a trading volume of 2,036,163 shares, compared to its average volume of 3,017,446. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $103.01 billion, a price-to-earnings ratio of 37.18, a PEG ratio of 1.95 and a beta of 1.12. The business has a 50-day moving average price of $171.38 and a 200 day moving average price of $164.33. Intercontinental Exchange Inc. has a 52-week low of $134.78 and a 52-week high of $182.48.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted 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. The company had revenue of $2.47 billion for 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%. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 earnings per share. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's payout ratio is 39.75%.

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.