Penserra Capital Management LLC Acquires 4,011 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Penserra Capital Management LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 97.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,128 shares of the financial services provider's stock after purchasing an additional 4,011 shares during the period. Penserra Capital Management LLC's holdings in Intercontinental Exchange were worth $1,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Proffitt & Goodson Inc. raised its holdings in shares of Intercontinental Exchange by 2.4% during the first quarter. Proffitt & Goodson Inc. now owns 8,130 shares of the financial services provider's stock worth $1,402,000 after purchasing an additional 190 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 19.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 16,124 shares of the financial services provider's stock worth $2,781,000 after acquiring an additional 2,611 shares during the last quarter. Simmons Bank lifted its holdings in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Simmons Bank now owns 31,568 shares of the financial services provider's stock worth $5,446,000 after acquiring an additional 126 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in Intercontinental Exchange during the 1st quarter worth approximately $162,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 0.8%

Shares of NYSE:ICE traded down $1.37 during trading on Friday, reaching $180.45. The stock had a trading volume of 1,576,878 shares, compared to its average volume of 2,970,341. The business has a fifty day moving average price of $178.47 and a 200-day moving average price of $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. The stock has a market cap of $103.51 billion, a P/E ratio of 37.36, a PEG ratio of 1.97 and a beta of 1.11. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 earnings per share. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday. Bank of America lowered their price objective 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 lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock 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. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and an average price target of $192.58.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, Director Sharon Bowen sold 795 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the transaction, the director owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,749 shares of company stock valued at $40,942,387 in the last ninety days. 1.00% of the stock is owned by insiders.

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.