Ninepoint Partners LP Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Ninepoint Partners LP purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,279 shares of the financial services provider’s stock, valued at approximately $678,000.

A number of other large investors also recently bought and sold shares of the business. OFI Invest Asset Management bought a new position in Intercontinental Exchange in the 3rd quarter worth about $25,000. Jones Financial Companies Lllp purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $26,000. Fortitude Family Office LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $28,000. BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $31,000. Finally, First Capital Advisors Group LLC. purchased a new position in Intercontinental Exchange in the 2nd quarter worth approximately $35,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. UBS Group lifted their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Raymond James lifted their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Bank of America lowered their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Finally, Citigroup boosted their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.08.

Intercontinental Exchange Price Performance

Shares of ICE traded down $0.37 during trading hours on Friday, reaching $130.61. 897,429 shares of the stock traded hands, compared to its average volume of 2,379,472. The company has a market cap of $74.79 billion, a P/E ratio of 31.06, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company’s 50-day moving average price is $136.36 and its two-hundred day moving average price is $124.27. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43.

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 analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is 42.86%.

Insider Activity

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares in the company, valued at approximately $2,544,198.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the completion of the transaction, the chief executive officer now owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange 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.