Roffman Miller Associates Inc. PA Buys 3,538 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Roffman Miller Associates Inc. PA increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,530 shares of the financial services provider's stock after acquiring an additional 3,538 shares during the quarter. Roffman Miller Associates Inc. PA's holdings in Intercontinental Exchange were worth $20,101,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tsfg LLC raised its position 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 worth $27,000 after acquiring an additional 103 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the last quarter. 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. Global Trust Asset Management LLC acquired a new position in Intercontinental Exchange in the 1st quarter valued at $31,000. Finally, Menard Financial Group LLC acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. This represents a 4.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange 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 sale, the chief executive officer owned 2,101,705 shares in the company, 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 valued at $40,942,387 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods raised 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Intercontinental Exchange Trading Down 0.1%

Shares of Intercontinental Exchange stock traded down $0.10 on Monday, hitting $183.01. The stock had a trading volume of 1,634,674 shares, compared to its average volume of 2,988,050. The stock's 50-day simple moving average is $177.16 and its two-hundred day simple moving average is $166.75. Intercontinental Exchange Inc. has a one year low of $140.32 and a one year high of $183.76. The stock has a market cap of $104.98 billion, a price-to-earnings ratio of 37.89, a PEG ratio of 1.98 and a beta of 1.11. 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 posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The business's revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict 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. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange's payout ratio is currently 39.75%.

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.