Centerpoint Advisors LLC bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) during the second quarter, HoldingsChannel.com reports. The fund bought 960 shares of the financial services provider's stock, valued at approximately $90,000.
Other large investors have also recently modified their holdings of the company. Gotham Asset Management LLC raised its holdings in shares of Intercontinental Exchange by 144.1% in the fourth quarter. Gotham Asset Management LLC now owns 12,857 shares of the financial services provider's stock valued at $1,758,000 after acquiring an additional 7,589 shares in the last quarter. IHT Wealth Management LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $205,000. LPL Financial LLC increased its position in Intercontinental Exchange by 9.3% during the 4th quarter. LPL Financial LLC now owns 176,158 shares of the financial services provider's stock valued at $24,093,000 after purchasing an additional 15,026 shares during the period. State Street Corp increased its position in Intercontinental Exchange by 3.3% during the 4th quarter. State Street Corp now owns 25,791,770 shares of the financial services provider's stock valued at $3,527,540,000 after purchasing an additional 819,503 shares during the period. Finally, Alpha Paradigm Partners LLC increased its position in Intercontinental Exchange by 185.5% during the 4th quarter. Alpha Paradigm Partners LLC now owns 3,280 shares of the financial services provider's stock valued at $449,000 after purchasing an additional 2,131 shares during the period. Hedge funds and other institutional investors own 87.00% of the company's stock.
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Intercontinental Exchange Stock Performance
NYSE:ICE traded down $0.82 during midday trading on Friday, hitting $93.24. The company's stock had a trading volume of 2,980,216 shares, compared to its average volume of 2,402,819. Intercontinental Exchange, Inc. has a fifty-two week low of $90.05 and a fifty-two week high of $139.79. The firm's 50 day moving average is $102.20 and its 200-day moving average is $107.45. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $52.07 billion, a P/E ratio of 15.62, a P/E/G ratio of 3.37 and a beta of 0.89.
Intercontinental Exchange (NYSE:ICE – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. Intercontinental Exchange had a net
margin of 35.58% and a return on equity of 13.52%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.80 billion. During the same quarter in the prior year, the company earned $1.16 EPS. Intercontinental Exchange's quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.36 earnings per share for the current fiscal year.
Intercontinental Exchange Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.52 annualized dividend and a yield of 1.63%. Intercontinental Exchange's dividend payout ratio is presently 25.46%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on ICE shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Intercontinental Exchange from $124.00 to $131.00 and gave the company a "buy" rating in a research report on Friday, August 12th. Atlantic Securities raised their target price on shares of Intercontinental Exchange from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Friday, August 19th. UBS Group cut their target price on shares of Intercontinental Exchange from $134.00 to $126.00 in a research report on Monday, July 11th. Argus lowered their price target on shares of Intercontinental Exchange from $148.00 to $138.00 in a report on Wednesday, June 1st. Finally, Rosenblatt Securities initiated coverage on shares of Intercontinental Exchange in a report on Tuesday, August 16th. They issued a "buy" rating and a $164.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus price target of $136.75.
Insiders Place Their Bets
In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 87,377 shares of the company's stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $94.95, for a total value of $8,296,446.15. Following the sale, the chief executive officer now owns 1,255,207 shares in the company, valued at approximately $119,181,904.65. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jeffrey C. Sprecher sold 87,377 shares of the company's stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $94.95, for a total transaction of $8,296,446.15. Following the completion of the transaction, the chief executive officer now directly owns 1,255,207 shares of the company's stock, valued at approximately $119,181,904.65. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the company's stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.00, for a total value of $267,500.00. Following the transaction, the general counsel now directly owns 42,007 shares of the company's stock, valued at $4,494,749. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,477 shares of company stock worth $8,736,314. Corporate insiders own 1.30% of the company's stock.
About Intercontinental Exchange
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Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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