Procyon Advisors LLC Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Procyon Advisors LLC raised its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 300.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,306 shares of the financial services provider's stock after buying an additional 32,504 shares during the period. Procyon Advisors LLC's holdings in Intercontinental Exchange were worth $7,470,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. REAP Financial Group LLC raised its position 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 acquiring an additional 91 shares during the period. Menard Financial Group LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $29,000. Redwood Park Advisors LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $33,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $34,000. Institutional investors own 89.30% of the company's stock.

Insider Activity

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 2,101,705 shares of the company's stock, valued at $376,667,570.10. The trade was a 6.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the transaction, the general counsel now directly owns 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,354 shares of company stock worth $40,512,695 in the last three months. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE traded up $0.14 during midday trading on Friday, hitting $178.70. 3,245,175 shares of the company traded hands, compared to its average volume of 3,023,695. Intercontinental Exchange, Inc. has a one year low of $132.93 and a one year high of $180.89. The firm has a market cap of $102.51 billion, a P/E ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a 50-day moving average of $168.45 and a 200-day moving average of $163.26.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $1.48 earnings per share. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ICE. Wall Street Zen upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Barclays boosted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $188.46.

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.