Verity Asset Management Inc. Purchases Shares of 1,422 Intercontinental Exchange Inc. (NYSE:ICE)

Verity Asset Management Inc. acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,422 shares of the financial services provider's stock, valued at approximately $245,000.

Several other institutional investors have also recently made changes to their positions in ICE. Tsfg LLC lifted its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after purchasing an additional 103 shares in the last quarter. Rakuten Securities Inc. raised its position in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after buying an additional 143 shares during the last quarter. REAP Financial Group LLC lifted its holdings in shares of 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 buying an additional 91 shares in the last quarter. Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange during the first quarter worth $31,000. Finally, Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $29,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO James W. Namkung sold 612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at $2,379,600. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,954 shares of company stock valued at $40,796,663. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 1.0%

Shares of ICE stock opened at $183.64 on Tuesday. The company has a market cap of $105.34 billion, a PE ratio of 38.02, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12. Intercontinental Exchange Inc. has a 1 year low of $136.25 and a 1 year high of $183.76. The stock's 50 day simple moving average is $175.53 and its two-hundred day simple moving average is $165.88. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

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 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 the consensus estimate of $2.44 billion. During the same quarter in the previous year, the company posted $1.48 EPS. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Analyst Ratings Changes

Several research firms recently weighed in on ICE. Barclays raised their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Bank of America cut their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of "Moderate Buy" and a consensus target price of $188.46.

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.

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