Creekmur Asset Management LLC Boosts Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Creekmur Asset Management LLC increased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 148,100.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,482 shares of the financial services provider's stock after buying an additional 1,481 shares during the period. Creekmur Asset Management LLC's holdings in Intercontinental Exchange were worth $256,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after acquiring an additional 538,670 shares during the period. Geode Capital Management LLC boosted its position in shares of Intercontinental Exchange by 2.8% in the fourth 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 acquiring an additional 327,637 shares during the period. Royal Bank of Canada boosted its position in shares of Intercontinental Exchange by 132.9% in the fourth 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 acquiring an additional 5,204,309 shares during the period. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp boosted its position in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after acquiring an additional 655,247 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ICE. Morgan Stanley increased their price objective 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. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Bank of America dropped 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. Barclays raised their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. Finally, Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 795 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at approximately $2,749,500. The trade was a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 226,119 shares of company stock valued at $40,524,217 over the last ninety days. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

NYSE ICE traded down $1.28 during trading on Friday, hitting $180.66. 2,482,973 shares of the company's stock were exchanged, compared to its average volume of 2,945,428. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a market cap of $103.63 billion, a PE ratio of 37.40, a P/E/G ratio of 1.98 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99. The stock's 50 day moving average price is $178.95 and its two-hundred day moving average price is $168.80.

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, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio is currently 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.