Raymond James & Associates Buys 68,626 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Raymond James & Associates lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 3.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,253,168 shares of the financial services provider's stock after purchasing an additional 68,626 shares during the quarter. Raymond James & Associates owned 0.39% of Intercontinental Exchange worth $309,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Annapolis Financial Services LLC lifted its position in shares of Intercontinental Exchange by 1,018.8% in the first quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider's stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $25,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. Finally, Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $28,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares in the company, valued at $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the sale, the president now owns 138,487 shares in the company, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,491 shares of company stock worth $21,454,204. Insiders own 1.10% of the company's stock.

Intercontinental Exchange Stock Performance

ICE stock traded down $0.12 during midday trading on Friday, hitting $131.70. 2,406,708 shares of the company traded hands, compared to its average volume of 2,148,893. The business has a 50 day simple moving average of $135.86 and a 200-day simple moving average of $125.28. The stock has a market capitalization of $75.41 billion, a price-to-earnings ratio of 31.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange's quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company posted $1.25 earnings per share. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.45 dividend. This is an increase from Intercontinental Exchange's previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 42.86%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ICE shares. Rosenblatt Securities raised their price objective on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a "buy" rating in a research report on Friday, February 9th. UBS Group raised their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, February 12th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. Barclays raised their price objective on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. Finally, Piper Sandler raised their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.08.

Intercontinental Exchange 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.