SOA Wealth Advisors LLC. lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 566.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,007 shares of the financial services provider's stock after buying an additional 10,205 shares during the quarter. SOA Wealth Advisors LLC.'s holdings in Intercontinental Exchange were worth $2,071,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of ICE. Vanguard Group Inc. boosted 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 valued at $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after buying an additional 327,637 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Norges Bank bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp grew its holdings in 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 valued at $1,105,953,000 after buying an additional 655,247 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.
Insider Buying and Selling at Intercontinental Exchange
In related news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade 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 226,354 shares of company stock valued at $40,512,695 in the last three months. Company insiders own 1.00% of the company's stock.
Intercontinental Exchange Trading Down 1.4%
Shares of NYSE ICE traded down $2.56 during midday trading on Monday, hitting $176.12. The company's stock had a trading volume of 1,187,925 shares, compared to its average volume of 3,017,286. 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 is $168.60 and its two-hundred day moving average is $163.49. Intercontinental Exchange, Inc. has a 12-month low of $132.93 and a 12-month high of $180.89. The firm has a market cap of $101.03 billion, a P/E ratio of 36.85, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the company posted $1.48 EPS. Intercontinental Exchange's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.
Intercontinental Exchange Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange's payout ratio is 39.75%.
Analyst Ratings Changes
Several analysts have recently issued reports on ICE shares. Barclays upped their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Bank of America reduced their target price 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. Finally, Morgan Stanley increased their price target 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $188.46.
View Our Latest Research Report on ICE
About Intercontinental Exchange
(
Free Report)
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.
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