First Financial Corp IN Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

First Financial Corp IN raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1,099.5% during the first quarter, HoldingsChannel reports. The firm owned 5,014 shares of the financial services provider’s stock after purchasing an additional 4,596 shares during the period. First Financial Corp IN’s holdings in Intercontinental Exchange were worth $865,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kestra Private Wealth Services LLC increased its holdings in shares of Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after buying an additional 4,787 shares during the period. Governors Lane LP increased its holdings in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after purchasing an additional 59,500 shares during the period. National Pension Service increased its holdings in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock valued at $184,644,000 after purchasing an additional 198,311 shares during the period. Hahn Capital Management LLC increased its holdings in Intercontinental Exchange by 69.8% during the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock valued at $10,600,000 after purchasing an additional 29,233 shares during the period. Finally, Tema Etfs LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $1,107,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. UBS Group boosted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Barclays boosted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $188.46.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $180.22 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $168.18 and its 200-day moving average price is $162.89. Intercontinental Exchange, Inc. has a 52 week low of $132.57 and a 52 week high of $181.81. The stock has a market cap of $103.38 billion, a P/E ratio of 37.70, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal 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 given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Insider Activity at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction 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 transaction, the director now directly owns 21,364 shares of the company’s stock, valued at $3,396,876. This represents a 10.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 552 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following 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. In the last three months, insiders have sold 4,191 shares of company stock valued at $694,978. 1.00% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.