Ethic Inc. Increases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Ethic Inc. increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 71,307 shares of the financial services provider’s stock after purchasing an additional 6,225 shares during the period. Ethic Inc.’s holdings in Intercontinental Exchange were worth $10,625,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ICE. Sierra Ocean LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at $25,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth about $33,000. Lee Danner & Bass Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $34,000. BankPlus Trust Department purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $40,000. Finally, Kapitalo Investimentos Ltda bought a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $44,000. Institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 7,900 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total transaction of $1,314,244.00. Following the sale, the president now directly owns 160,059 shares of the company’s stock, valued at approximately $26,627,415.24. This represents a 4.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,368 shares of company stock worth $7,077,789. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.93.

Intercontinental Exchange Stock Down 0.0 %

Shares of NYSE ICE opened at $176.45 on Friday. The firm has a fifty day simple moving average of $166.76 and a two-hundred day simple moving average of $160.91. Intercontinental Exchange, Inc. has a 12 month low of $131.79 and a 12 month high of $178.80. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $101.37 billion, a PE ratio of 36.91, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Intercontinental Exchange’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.09%. Intercontinental Exchange’s payout ratio is currently 39.75%.

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.