City Holding Co. Purchases 101 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

City Holding Co. boosted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,221 shares of the financial services provider’s stock after acquiring an additional 101 shares during the quarter. City Holding Co.’s holdings in Intercontinental Exchange were worth $211,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. Strategic Advisors LLC grew its position in Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 66 shares during the period. Johnson Investment Counsel Inc. grew its position in shares of Intercontinental Exchange by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 71 shares during the period. Quadcap Wealth Management LLC lifted its position in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock valued at $918,000 after buying an additional 71 shares in the last quarter. Colonial Trust Co SC lifted its position in shares of Intercontinental Exchange by 11.7% during the 4th quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider’s stock valued at $102,000 after buying an additional 72 shares in the last quarter. Finally, Sprott Inc. boosted its holdings in Intercontinental Exchange by 2.4% in the 4th quarter. Sprott Inc. now owns 3,085 shares of the financial services provider’s stock worth $460,000 after buying an additional 73 shares during the period. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Price Performance

NYSE ICE opened at $175.99 on Tuesday. Intercontinental Exchange, Inc. has a 52-week low of $132.93 and a 52-week high of $180.89. The firm’s 50 day moving average price is $168.71 and its 200-day moving average price is $163.61. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $100.95 billion, a PE ratio of 36.82, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 8.0% compared to the same quarter last year. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 397 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the sale, the director now owns 4,526 shares in the company, valued at approximately $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel now owns 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 226,354 shares of company stock valued at $40,512,695. Insiders own 1.00% of the company’s stock.

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.