Tidal Investments LLC Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Tidal Investments LLC grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 126.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,873 shares of the financial services provider's stock after purchasing an additional 124,391 shares during the quarter. Tidal Investments LLC's holdings in Intercontinental Exchange were worth $33,210,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in 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 worth $7,782,521,000 after acquiring an additional 538,670 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after purchasing an additional 327,637 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Intercontinental Exchange by 132.9% in 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 purchasing an additional 5,204,309 shares during the last quarter. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $1,196,258,000. Finally, Northern Trust Corp boosted its position in shares of Intercontinental Exchange by 9.7% in 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 purchasing an additional 655,247 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

ICE traded up $2.43 during trading on Friday, reaching $176.43. The company's stock had a trading volume of 1,020,901 shares, compared to its average volume of 2,988,013. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company's fifty day moving average price is $167.69 and its 200-day moving average price is $161.74. Intercontinental Exchange, Inc. has a 52-week low of $131.79 and a 52-week high of $179.44. The company has a market capitalization of $101.20 billion, a price-to-earnings ratio of 36.89, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 earnings per share. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Morgan Stanley increased their target price 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. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares of the company's stock, valued at $3,396,876. The trade was a 10.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the company's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

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.