CIBC Private Wealth Group LLC Has $354.85 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

CIBC Private Wealth Group LLC grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the 1st quarter, HoldingsChannel reports. The firm owned 3,177,329 shares of the financial services provider’s stock after acquiring an additional 25,302 shares during the quarter. Intercontinental Exchange comprises about 0.9% of CIBC Private Wealth Group LLC’s investment portfolio, making the stock its 23rd biggest position. CIBC Private Wealth Group LLC’s holdings in Intercontinental Exchange were worth $354,845,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Signature Estate & Investment Advisors LLC lifted its stake in shares of Intercontinental Exchange by 4.7% in the first quarter. Signature Estate & Investment Advisors LLC now owns 311,431 shares of the financial services provider’s stock valued at $34,781,000 after buying an additional 13,859 shares during the period. US Bancorp DE lifted its stake in shares of Intercontinental Exchange by 3.7% in the fourth quarter. US Bancorp DE now owns 107,480 shares of the financial services provider’s stock valued at $12,392,000 after buying an additional 3,799 shares during the period. BlackRock Inc. lifted its stake in shares of Intercontinental Exchange by 8.2% in the first quarter. BlackRock Inc. now owns 39,675,049 shares of the financial services provider’s stock valued at $4,430,910,000 after buying an additional 2,990,090 shares during the period. Marietta Wealth Management LLC lifted its stake in shares of Intercontinental Exchange by 3.3% in the fourth quarter. Marietta Wealth Management LLC now owns 50,505 shares of the financial services provider’s stock valued at $5,823,000 after buying an additional 1,612 shares during the period. Finally, Eaton Vance Management lifted its stake in shares of Intercontinental Exchange by 28.4% in the fourth quarter. Eaton Vance Management now owns 786,464 shares of the financial services provider’s stock valued at $90,672,000 after buying an additional 173,980 shares during the period. 87.67% of the stock is currently owned by institutional investors.

A number of research analysts have commented on ICE shares. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $127.00 price target for the company in a research note on Monday, April 19th. Raymond James raised their price target on shares of Intercontinental Exchange from $133.00 to $136.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 6th. Morgan Stanley began coverage on shares of Intercontinental Exchange in a research note on Friday. They issued an “equal weight” rating and a $122.00 target price for the company. Finally, Rosenblatt Securities lifted their target price on shares of Intercontinental Exchange from $133.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $123.38.

In other news, General Counsel Andrew J. Surdykowski sold 1,458 shares of Intercontinental Exchange stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $112.96, for a total transaction of $164,695.68. Following the transaction, the general counsel now directly owns 40,727 shares of the company’s stock, valued at $4,600,521.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Scott A. Hill sold 17,095 shares of Intercontinental Exchange stock in a transaction on Monday, April 19th. The stock was sold at an average price of $120.07, for a total transaction of $2,052,596.65. Following the transaction, the chief financial officer now directly owns 160,490 shares in the company, valued at $19,270,034.30. The disclosure for this sale can be found here. Insiders have sold a total of 132,742 shares of company stock valued at $15,137,922 in the last ninety days. Company insiders own 1.30% of the company’s stock.

Shares of Intercontinental Exchange stock traded up $0.59 during midday trading on Friday, reaching $112.31. The company had a trading volume of 10,106 shares, compared to its average volume of 2,398,273. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. The firm has a market cap of $63.20 billion, a P/E ratio of 29.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. The company’s fifty day moving average is $114.89. Intercontinental Exchange, Inc. has a 1-year low of $90.01 and a 1-year high of $121.96.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, April 29th. The financial services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.04. Intercontinental Exchange had a net margin of 24.36% and a return on equity of 13.50%. The firm had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. During the same quarter in the previous year, the business earned $1.28 EPS. The business’s quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange, Inc. will post 5.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Tuesday, June 15th. Intercontinental Exchange’s dividend payout ratio is presently 29.27%.

Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc 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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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