Sycale Advisors NY LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 33.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,443 shares of the financial services provider's stock after buying an additional 45,669 shares during the quarter. Intercontinental Exchange accounts for 7.0% of Sycale Advisors NY LLC's investment portfolio, making the stock its 5th largest holding. Sycale Advisors NY LLC's holdings in Intercontinental Exchange were worth $27,186,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also bought and sold shares of ICE. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Royal Bank of Canada lifted its holdings in Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC boosted its position in Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. bought a new position in Intercontinental Exchange in the 4th quarter valued at $406,728,000. Finally, Swedbank AB grew its stake in Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider's stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the period. Institutional investors own 89.30% of the company's stock.
Intercontinental Exchange Stock Performance
Shares of NYSE ICE traded up $2.25 during mid-day trading on Friday, hitting $176.25. The company had a trading volume of 900,943 shares, compared to its average volume of 2,987,603. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 1 year low of $131.79 and a 1 year high of $179.44. The company has a market capitalization of $101.10 billion, a price-to-earnings ratio of 36.88, a P/E/G ratio of 2.10 and a beta of 1.12. The stock's 50-day moving average price is $167.69 and its 200-day moving average price is $161.74.
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. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm earned $1.48 EPS. The company's quarterly revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.
Intercontinental Exchange Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.
Insiders Place Their Bets
In other news, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now owns 147,274 shares of the company's stock, valued at approximately $25,247,181.82. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ICE. Morgan Stanley lifted their target price 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 boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America decreased 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 note on Wednesday, April 2nd. Finally, Barclays upped their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.
Check Out Our Latest Stock Analysis on ICE
Intercontinental Exchange Company Profile
(
Free Report)
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.
Further Reading
Before you consider Intercontinental Exchange, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Intercontinental Exchange wasn't on the list.
While Intercontinental Exchange currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
