Tandem Investment Advisors Inc. Has $136.02 Million Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Tandem Investment Advisors Inc. lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 788,497 shares of the financial services provider's stock after selling 27,191 shares during the quarter. Intercontinental Exchange makes up approximately 4.7% of Tandem Investment Advisors Inc.'s portfolio, making the stock its 3rd biggest holding. Tandem Investment Advisors Inc. owned 0.14% of Intercontinental Exchange worth $136,016,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Governors Lane LP raised its holdings in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after acquiring an additional 59,500 shares during the period. Tema Etfs LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at $1,107,000. Ilmarinen Mutual Pension Insurance Co raised its stake in shares of Intercontinental Exchange by 61.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after purchasing an additional 59,800 shares during the period. SouthState Corp lifted its holdings in Intercontinental Exchange by 4.5% during the 4th quarter. SouthState Corp now owns 66,417 shares of the financial services provider's stock worth $9,897,000 after purchasing an additional 2,851 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in Intercontinental Exchange in the 4th quarter worth about $28,949,000. Institutional investors own 89.30% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of the 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 sale, the senior vice president owned 27,313 shares in the company, valued at approximately $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 ninety days, insiders sold 228,749 shares of company stock worth $40,942,387. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.8%

Shares of Intercontinental Exchange stock traded up $1.37 during midday trading on Friday, reaching $183.11. 1,082,826 shares of the company's stock traded hands, compared to its average volume of 2,989,912. The stock has a 50 day moving average of $176.76 and a 200-day moving average of $166.29. Intercontinental Exchange Inc. has a 12 month low of $139.61 and a 12 month high of $183.76. The company has a market cap 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 company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted 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 firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.48 EPS. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.