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

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

A number of other hedge funds also recently modified their holdings of ICE. REAP Financial Group LLC lifted its stake in shares of Intercontinental Exchange by 116.7% during 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 last quarter. Tsfg LLC increased its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the period. Menard Financial Group LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $29,000. Rakuten Securities Inc. increased its position in Intercontinental Exchange by 595.8% during 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. Finally, Global Trust Asset Management LLC bought a new position in Intercontinental Exchange during the first quarter worth about $31,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.35 during mid-day trading on Friday, reaching $181.47. The company had a trading volume of 252,672 shares, compared to its average volume of 2,969,732. The company's 50 day simple moving average is $178.33 and its 200 day simple moving average is $167.39. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $183.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $104.09 billion, a price-to-earnings ratio of 37.60, a P/E/G ratio of 1.96 and a beta of 1.11.

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. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company posted $1.48 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. Analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction that occurred 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 sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the sale, the director owned 15,000 shares in the company, valued at approximately $2,749,500. This represents a 5.03% 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 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ICE. Bank of America lowered their price target 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. UBS Group raised their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday. Barclays raised their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday. 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 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 report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.

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.