Intercontinental Exchange Inc. (NYSE:ICE) Shares Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC increased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 400,912 shares of the financial services provider's stock after acquiring an additional 17,348 shares during the period. Manning & Napier Advisors LLC owned approximately 0.07% of Intercontinental Exchange worth $69,157,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. REAP Financial Group LLC raised its stake in shares of 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 acquiring an additional 91 shares in the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at $31,000. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $29,000. Finally, Redwood Park Advisors LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $1.40 during mid-day trading on Monday, hitting $179.83. 2,017,355 shares of the stock were exchanged, compared to its average volume of 3,011,946. The stock's fifty day simple moving average is $172.76 and its two-hundred day simple moving average is $164.85. The stock has a market capitalization of $103.16 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 1.93 and a beta of 1.12. Intercontinental Exchange Inc. has a 12-month low of $136.21 and a 12-month high of $181.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

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

Intercontinental Exchange Announces Dividend

The business also recently declared 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 dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Barclays raised their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Bank of America cut their price target on 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 raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $188.46.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president now owns 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Martha A. Tirinnanzi sold 397 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the transaction, the director now directly owns 4,526 shares in the company, valued at approximately $801,599.86. This represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 227,954 shares of company stock valued at $40,796,663 over the last quarter. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange 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.