Ninety One SA PTY Ltd Makes New $514,000 Investment in Intercontinental Exchange Inc. (NYSE:ICE)

Ninety One SA PTY Ltd acquired a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,978 shares of the financial services provider's stock, valued at approximately $514,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Tsfg LLC boosted its stake in shares of Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. lifted 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 worth $29,000 after acquiring an additional 143 shares during the period. REAP Financial Group LLC increased its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange in the first quarter worth approximately $31,000. Finally, Menard Financial Group LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth approximately $29,000. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ICE. UBS Group boosted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Barclays boosted their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday. Morgan Stanley upped their price target on 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, Bank of America dropped their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average price target of $192.58.

Insider Activity at Intercontinental Exchange

In related news, Director Sharon Bowen sold 795 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the sale, the director directly owned 15,000 shares in the company, valued at $2,749,500. This represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 228,749 shares of company stock worth $40,942,387 over the last three months. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $1.37 during trading on Friday, hitting $180.45. 1,576,878 shares of the stock traded hands, compared to its average volume of 2,973,335. The stock has a market cap of $103.51 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 1.99 and a beta of 1.11. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $183.99. The firm's fifty day moving average is $178.47 and its 200-day moving average is $167.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

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.