Narwhal Capital Management Buys Shares of 17,086 Intercontinental Exchange Inc. $ICE

Narwhal Capital Management purchased a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,086 shares of the financial services provider's stock, valued at approximately $2,767,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Dorato Capital Management acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $29,000. Steph & Co. increased its position in Intercontinental Exchange by 104.7% during the 4th quarter. Steph & Co. now owns 174 shares of the financial services provider's stock valued at $28,000 after buying an additional 89 shares in the last quarter. Holos Integrated Wealth LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at about $28,000. Finally, Caitlin John LLC purchased a new stake in Intercontinental Exchange in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Barclays increased their price objective on shares of Intercontinental Exchange from $193.00 to $198.00 and gave the company an "overweight" rating in a research report on Wednesday, April 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a research note on Friday, March 6th. Keefe, Bruyette & Woods started coverage on shares of Intercontinental Exchange in a research note on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of "Buy" and an average price target of $193.80.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the completion of the sale, the chief executive officer directly owned 1,651,705 shares in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 15,213 shares of the company's stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the sale, the chief technology officer directly owned 64,869 shares in the company, valued at $10,055,992.38. This trade represents a 19.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 348,418 shares of company stock worth $54,196,631 in the last ninety days. 0.84% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 0.5%

Intercontinental Exchange stock opened at $156.24 on Wednesday. The business's 50-day simple moving average is $160.11 and its two-hundred day simple moving average is $160.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $88.50 billion, a PE ratio of 27.08, a PEG ratio of 1.63 and a beta of 1.03. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same period last year, the business posted $1.52 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange Inc. will post 8.06 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 36.05%.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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