Secure Asset Management LLC Acquires New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Secure Asset Management LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 11,531 shares of the financial services provider's stock, valued at approximately $1,989,000.

Several other institutional investors have also recently made changes to their positions in ICE. Sierra Ocean LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. REAP Financial Group LLC increased its holdings in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $29,000. Redwood Park Advisors LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange in the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ICE. Keefe, Bruyette & Woods lifted 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. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley lifted 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, UBS Group boosted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Activity

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the company's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer now owns 13,220 shares in the company, valued at $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,191 shares of company stock valued at $694,978. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Down 0.4%

Shares of ICE stock traded down $0.64 on Thursday, reaching $178.49. 2,438,359 shares of the stock were exchanged, compared to its average volume of 3,015,681. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The business's 50 day moving average price is $168.33 and its 200 day moving average price is $163.12. The company has a market capitalization of $102.38 billion, a price-to-earnings ratio of 37.34, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a twelve month low of $132.93 and a twelve month high of $180.89.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results 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. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the prior year, the company 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 expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. Intercontinental Exchange's payout ratio is 39.75%.

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.