Mayflower Financial Advisors LLC Acquires 1,974 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Mayflower Financial Advisors LLC grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 119.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,629 shares of the financial services provider's stock after acquiring an additional 1,974 shares during the quarter. Mayflower Financial Advisors LLC's holdings in Intercontinental Exchange were worth $626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Governors Lane LP increased its stake in Intercontinental Exchange by 88.0% during the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after acquiring an additional 59,500 shares during the last quarter. Tema Etfs LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $1,107,000. Ilmarinen Mutual Pension Insurance Co grew its stake in shares of Intercontinental Exchange by 61.0% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after buying an additional 59,800 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at about $349,000. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after buying an additional 1,879 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of analyst reports. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, July 8th. Barclays increased their price target on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. Piper Sandler increased their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a report on Tuesday, July 15th. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $194.42.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $1.28 during trading on Friday, hitting $180.66. 2,482,973 shares of the company's stock traded hands, compared to its average volume of 2,945,428. 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 firm's fifty day moving average price is $178.95 and its 200 day moving average price is $168.80. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $183.99. The company has a market cap of $103.63 billion, a PE ratio of 37.40, a PEG ratio of 1.98 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS 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 analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. 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. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's payout ratio is presently 39.75%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares in the company, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the sale, the director owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This represents a 5.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,119 shares of company stock valued at $40,524,217. 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.