Voloridge Investment Management LLC Buys 329,285 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Voloridge Investment Management LLC raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 117.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 608,757 shares of the financial services provider's stock after acquiring an additional 329,285 shares during the quarter. Voloridge Investment Management LLC owned approximately 0.11% of Intercontinental Exchange worth $90,711,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kestra Private Wealth Services LLC raised its holdings in Intercontinental Exchange by 6.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock worth $11,022,000 after purchasing an additional 4,787 shares during the last quarter. Governors Lane LP boosted its position in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after acquiring an additional 59,500 shares during the last quarter. Avantra Family Wealth Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $702,000. National Pension Service boosted its position in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after acquiring an additional 198,311 shares during the last quarter. Finally, Hahn Capital Management LLC boosted its position in Intercontinental Exchange by 69.8% during the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock worth $10,600,000 after acquiring an additional 29,233 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ICE. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $185.93.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the transaction, the president now owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the sale, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,468 shares of company stock worth $5,763,545 in the last 90 days. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Up 0.2%

ICE stock opened at $176.61 on Tuesday. 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 market capitalization of $101.31 billion, a price-to-earnings ratio of 36.95, a PEG ratio of 2.10 and a beta of 1.12. The business's fifty day moving average price is $167.46 and its two-hundred day moving average price is $161.42. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.48 EPS. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.09%. Intercontinental Exchange's payout ratio is 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.

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