Intercontinental Exchange Inc. (NYSE:ICE) Stake Raised by Brown Lisle Cummings Inc.

Brown Lisle Cummings Inc. grew its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,463 shares of the financial services provider's stock after purchasing an additional 3,975 shares during the period. Intercontinental Exchange comprises approximately 3.2% of Brown Lisle Cummings Inc.'s holdings, making the stock its 4th largest holding. Brown Lisle Cummings Inc.'s holdings in Intercontinental Exchange were worth $10,947,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. REAP Financial Group LLC increased its stake in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares during the period. Menard Financial Group LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth about $29,000. Rakuten Securities Inc. increased its stake in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after buying an additional 143 shares during the period. Global Trust Asset Management LLC purchased a new position in Intercontinental Exchange in the 1st quarter worth about $31,000. Finally, Redwood Park Advisors LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth about $33,000. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on ICE shares. Barclays raised their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $188.46.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $178.27 on Monday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12 month low of $136.21 and a 12 month high of $181.65. The company has a 50 day simple moving average of $172.76 and a two-hundred day simple moving average of $164.85. The stock has a market cap of $102.26 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 1.93 and a beta of 1.12.

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 (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 firm had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the business posted $1.48 EPS. The business's revenue was up 8.0% compared to the same quarter last year. As a group, analysts predict 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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.08%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer now directly owns 13,220 shares in the company, valued at $2,379,600. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction 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 approximately $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock worth $40,796,663 in the last three months. Company insiders own 1.00% of the company's stock.

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.

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