Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by PFG Investments LLC

PFG Investments LLC boosted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 35.3% during the 1st quarter, Holdings Channel reports. The fund owned 4,172 shares of the financial services provider’s stock after acquiring an additional 1,089 shares during the quarter. PFG Investments LLC’s holdings in Intercontinental Exchange were worth $573,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC raised its stake in Intercontinental Exchange by 12.6% in the third quarter. Valeo Financial Advisors LLC now owns 6,234 shares of the financial services provider’s stock valued at $686,000 after buying an additional 700 shares in the last quarter. PDS Planning Inc boosted its holdings in Intercontinental Exchange by 3.8% in the third quarter. PDS Planning Inc now owns 3,054 shares of the financial services provider’s stock valued at $336,000 after purchasing an additional 112 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in Intercontinental Exchange by 4.3% in the third quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock valued at $4,534,000 after purchasing an additional 1,716 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in Intercontinental Exchange by 0.5% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 124,006 shares of the financial services provider’s stock worth $13,643,000 after purchasing an additional 600 shares in the last quarter. Finally, Arcadia Investment Management Corp MI lifted its position in shares of Intercontinental Exchange by 1.3% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 98,556 shares of the financial services provider’s stock worth $10,843,000 after buying an additional 1,222 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Raymond James increased their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Morgan Stanley raised their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. UBS Group boosted their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, Citigroup raised their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Trading Down 0.7 %

ICE stock traded down $0.92 during midday trading on Monday, hitting $130.78. The stock had a trading volume of 1,557,866 shares, compared to its average volume of 2,376,438. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43. The company’s 50-day moving average price is $135.74 and its 200 day moving average price is $125.52. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $74.89 billion, a PE ratio of 31.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. The company’s revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given 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 yield of 1.38%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Insider Activity

In other news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the purchase, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the completion of the sale, the chief financial officer now owns 12,061 shares of the company’s stock, valued at $1,640,296. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 over the last 90 days. Company insiders own 1.10% of the company’s stock.

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.