West Family Investments Inc. Makes New Investment in Intercontinental Exchange Inc. (NYSE:ICE)

West Family Investments Inc. bought a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,729 shares of the financial services provider's stock, valued at approximately $298,000.

A number of other large investors have also added to or reduced their stakes in ICE. Governors Lane LP increased its position in shares of Intercontinental Exchange by 88.0% in the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after acquiring an additional 59,500 shares during the period. Tema Etfs LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $1,107,000. Ilmarinen Mutual Pension Insurance Co grew its holdings in shares of Intercontinental Exchange by 61.0% during the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after buying an additional 59,800 shares during the last quarter. Capital Investment Advisory Services LLC purchased a new stake in shares of Intercontinental Exchange during the first quarter valued at $349,000. Finally, SouthState Corp raised its holdings in shares of Intercontinental Exchange by 4.5% during the fourth quarter. SouthState Corp now owns 66,417 shares of the financial services provider's stock valued at $9,897,000 after purchasing an additional 2,851 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction 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. The trade was a 4.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,119 shares of company stock valued at $40,524,217 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ICE. Piper Sandler raised their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday. Barclays upped their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday, July 10th. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Bank of America decreased their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.42.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.09 during mid-day trading on Thursday, hitting $181.89. 1,806,778 shares of the company's stock traded hands, compared to its average volume of 2,946,467. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $183.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The firm's 50 day simple moving average is $178.80 and its 200 day simple moving average is $168.22. The company has a market cap of $104.34 billion, a PE ratio of 37.66, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 earnings per share. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 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.