Intercontinental Exchange Inc. (NYSE:ICE) Stock Position Boosted by Woodley Farra Manion Portfolio Management Inc.

Woodley Farra Manion Portfolio Management Inc. raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 442,404 shares of the financial services provider's stock after purchasing an additional 4,170 shares during the quarter. Intercontinental Exchange accounts for approximately 3.8% of Woodley Farra Manion Portfolio Management Inc.'s investment portfolio, making the stock its 7th biggest holding. Woodley Farra Manion Portfolio Management Inc. owned 0.08% of Intercontinental Exchange worth $76,315,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ICE. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Tsfg LLC boosted 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 valued at $27,000 after purchasing an additional 103 shares during the last quarter. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at $29,000. Rakuten Securities Inc. boosted its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter worth about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ICE. UBS Group increased their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays increased their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Finally, Bank of America reduced their price target 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. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $194.42.

Intercontinental Exchange Trading Up 0.8%

Shares of ICE stock traded up $1.47 during trading on Wednesday, hitting $186.18. 3,506,659 shares of the stock traded hands, compared to its average volume of 1,871,467. The firm has a market capitalization of $106.80 billion, a P/E ratio of 38.55, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. 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's fifty day moving average price is $180.10 and its 200-day moving average price is $170.55. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $187.38.

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

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.03%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Insider Activity at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction on Thursday, June 5th. The stock was 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 approximately $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 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 directly owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock valued at $40,671,107 over the last ninety days. 1.00% of the stock is owned by 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.