Park Square Financial Group LLC Takes $102,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Park Square Financial Group LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 682 shares of the financial services provider’s stock, valued at approximately $102,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada increased its position in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $1,196,258,000. Finally, Northern Trust Corp increased its position in shares of Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of several research analyst reports. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. UBS Group increased their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Bank of America dropped their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Price Performance

NYSE ICE opened at $178.52 on Wednesday. Intercontinental Exchange, Inc. has a one year low of $131.79 and a one year high of $179.44. The stock has a 50-day moving average of $167.87 and a 200 day moving average of $162.21. The company has a market capitalization of $102.40 billion, a price-to-earnings ratio of 37.35, a PEG ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released 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. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company earned $1.48 EPS. Intercontinental Exchange’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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 issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.08%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 552 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total value of $96,335.04. Following the completion of the transaction, the insider now directly owns 15,658 shares in the company, valued at $2,732,634.16. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% 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.