Penserra Capital Management LLC Has $1.40 Million Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Penserra Capital Management LLC raised its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 97.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,128 shares of the financial services provider's stock after buying an additional 4,011 shares during the quarter. Penserra Capital Management LLC's holdings in Intercontinental Exchange were worth $1,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 538,670 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 2.8% during the 4th 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 grew its holdings in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Finally, Northern Trust Corp grew its holdings in shares of Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after purchasing an additional 655,247 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

ICE traded down $0.24 during trading on Thursday, hitting $181.93. The company's stock had a trading volume of 447,822 shares, compared to its average volume of 3,048,852. The stock has a market capitalization of $104.36 billion, a price-to-earnings ratio of 37.67, a price-to-earnings-growth ratio of 1.95 and a beta of 1.11. Intercontinental Exchange Inc. has a 12 month low of $142.29 and a 12 month high of $183.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm's 50 day moving average price is $178.11 and its two-hundred day moving average price is $167.17.

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

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.48 per share. 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 Activity at Intercontinental Exchange

In other news, Director Sharon Bowen sold 795 shares of the business's stock in a transaction 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 completion of the sale, the director owned 15,000 shares in the company, valued at $2,749,500. The trade was a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,749 shares of company stock valued at $40,942,387 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, UBS Group raised their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $191.92.

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.