Intercontinental Exchange Inc. (NYSE:ICE) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,331 shares of the financial services provider's stock after purchasing an additional 1,880 shares during the quarter. State of Alaska Department of Revenue's holdings in Intercontinental Exchange were worth $11,614,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. CWA Asset Management Group LLC increased its stake in shares of Intercontinental Exchange by 3.6% during the first quarter. CWA Asset Management Group LLC now owns 5,624 shares of the financial services provider's stock worth $970,000 after acquiring an additional 193 shares during the period. PUREfi Wealth LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth about $214,000. Shepherd Financial Partners LLC increased its stake in shares of Intercontinental Exchange by 5.7% during the first quarter. Shepherd Financial Partners LLC now owns 6,967 shares of the financial services provider's stock worth $1,202,000 after acquiring an additional 374 shares during the period. Clarius Group LLC increased its stake in shares of Intercontinental Exchange by 32.9% during the first quarter. Clarius Group LLC now owns 4,417 shares of the financial services provider's stock worth $762,000 after acquiring an additional 1,094 shares during the period. Finally, Optivise Advisory Services LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth about $300,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded down $1.50 on Friday, hitting $178.27. The company's stock had a trading volume of 3,910,144 shares, compared to its average volume of 3,015,942. Intercontinental Exchange Inc. has a 12-month low of $136.21 and a 12-month high of $181.65. The company has a market capitalization of $102.26 billion, a price-to-earnings ratio of 36.91, a price-to-earnings-growth ratio of 1.93 and a beta of 1.12. 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 stock has a 50 day moving average of $172.76 and a 200-day moving average of $164.79.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. Morgan Stanley boosted their price target 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. Bank of America dropped their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their price target 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. Finally, Barclays boosted their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel now owns 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 filing with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total transaction of $96,335.04. Following the completion of the transaction, the insider now directly owns 15,658 shares of the company's stock, valued at approximately $2,732,634.16. This represents a 3.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,954 shares of company stock valued at $40,796,663 over the last quarter. Corporate insiders own 1.00% of the company's stock.

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.