South Plains Financial Inc. Acquires Shares of 5,659 Intercontinental Exchange, Inc. (NYSE:ICE)

South Plains Financial Inc. acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,659 shares of the financial services provider's stock, valued at approximately $843,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at $2,817,000. World Investment Advisors LLC boosted its stake in shares of Intercontinental Exchange by 759.2% in the third quarter. World Investment Advisors LLC now owns 52,946 shares of the financial services provider's stock worth $8,505,000 after acquiring an additional 46,784 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Intercontinental Exchange during the third quarter worth $3,504,000. Tidal Investments LLC raised its holdings in Intercontinental Exchange by 180.6% in the 3rd quarter. Tidal Investments LLC now owns 98,482 shares of the financial services provider's stock valued at $15,820,000 after acquiring an additional 63,382 shares during the last quarter. Finally, Synovus Financial Corp lifted its position in Intercontinental Exchange by 7.1% during the third quarter. Synovus Financial Corp now owns 33,874 shares of the financial services provider's stock worth $5,441,000 after buying an additional 2,247 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Barclays upped their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday. Finally, UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $185.93.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 17,104 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the transaction, the president now directly owns 155,174 shares of the company's stock, valued at approximately $25,855,091.88. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,931 shares of company stock valued at $10,492,868 over the last three months. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $1.46 during trading hours on Tuesday, hitting $175.44. 632,029 shares of the company were exchanged, compared to its average volume of 2,917,341. The business has a 50-day moving average of $166.54 and a 200-day moving average of $160.63. Intercontinental Exchange, Inc. has a 1 year low of $130.39 and a 1 year high of $177.45. 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 stock has a market capitalization of $100.79 billion, a price-to-earnings ratio of 36.70, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its 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 company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 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.