Intercontinental Exchange, Inc. (NYSE:ICE) Position Boosted by Running Oak Capital LLC

Running Oak Capital LLC increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 16.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,099 shares of the financial services provider’s stock after buying an additional 11,165 shares during the period. Intercontinental Exchange accounts for about 1.9% of Running Oak Capital LLC’s investment portfolio, making the stock its 8th biggest position. Running Oak Capital LLC’s holdings in Intercontinental Exchange were worth $9,902,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Nordea Investment Management AB lifted its position in shares of Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after buying an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after buying an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Intercontinental Exchange by 9.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after buying an additional 105,042 shares during the period. First County Bank CT raised its position in Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after buying an additional 100 shares during the last quarter. Finally, RWA Wealth Partners LLC lifted its stake in Intercontinental Exchange by 106.2% during the 4th quarter. RWA Wealth Partners LLC now owns 22,928 shares of the financial services provider’s stock valued at $2,945,000 after acquiring an additional 11,809 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 1.7 %

Shares of NYSE ICE traded down $2.14 during midday trading on Thursday, reaching $126.54. 4,303,933 shares of the company’s stock were exchanged, compared to its average volume of 2,406,974. The stock has a market capitalization of $72.46 billion, a PE ratio of 30.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The business’s fifty day moving average price is $135.42 and its two-hundred day moving average price is $125.67.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating 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 analysts’ expectations of $2.20 billion. During the same period in the prior year, the business posted $1.25 EPS. The business’s revenue was up 24.5% on a year-over-year basis. Analysts forecast that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.42%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ICE shares. Morgan Stanley increased their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays lifted their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Raymond James raised their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Finally, UBS Group boosted their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.08.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of Intercontinental Exchange stock in a transaction on Monday, March 4th. The stock was bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the transaction, the insider now directly 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 can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is owned by corporate insiders.

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.