Intercontinental Exchange Inc. (NYSE:ICE) Shares Acquired by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 50.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,933,532 shares of the financial services provider's stock after purchasing an additional 1,993,084 shares during the period. Bank of New York Mellon Corp owned approximately 1.03% of Intercontinental Exchange worth $1,023,534,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ICE. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after buying an additional 327,637 shares during the period. Royal Bank of Canada raised its holdings in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the period. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $1,196,258,000. Finally, Northern Trust Corp raised its holdings in shares of Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after buying an additional 655,247 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange 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 $4,847,511.24. The trade was a 5.53% 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, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction 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 sale, the director owned 21,364 shares in the company, valued at approximately $3,396,876. This trade 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 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 0.8%

Shares of NYSE:ICE opened at $183.11 on Friday. The company has a market capitalization of $105.04 billion, a P/E ratio of 37.91, a P/E/G ratio of 1.98 and a beta of 1.11. Intercontinental Exchange Inc. has a 1 year low of $139.61 and a 1 year high of $183.76. 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 business's 50 day simple moving average is $177.16 and its 200 day simple moving average is $166.50.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 EPS. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.05%. Intercontinental Exchange's payout ratio is 39.75%.

Analysts Set New Price Targets

Several research firms have issued reports on ICE. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Barclays upped their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Bank of America lowered their price objective 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. Finally, Keefe, Bruyette & Woods boosted 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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.