Silver Oak Securities Incorporated Decreases Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Silver Oak Securities Incorporated cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 5.2% during the first quarter, HoldingsChannel.com reports. The fund owned 3,517 shares of the financial services provider’s stock after selling 193 shares during the period. Silver Oak Securities Incorporated’s holdings in Intercontinental Exchange were worth $614,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ICE. Premier Path Wealth Partners LLC boosted its stake in Intercontinental Exchange by 5.4% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,802 shares of the financial services provider’s stock worth $828,000 after purchasing an additional 244 shares during the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Intercontinental Exchange by 12.3% in the first quarter. Institute for Wealth Management LLC. now owns 3,195 shares of the financial services provider’s stock worth $551,000 after buying an additional 351 shares in the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Intercontinental Exchange by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 67,331 shares of the financial services provider’s stock worth $11,614,000 after buying an additional 1,880 shares in the last quarter. CWA Asset Management Group LLC boosted its position in Intercontinental Exchange by 3.6% during the first quarter. CWA Asset Management Group LLC now owns 5,624 shares of the financial services provider’s stock worth $970,000 after acquiring an additional 193 shares during the last quarter. Finally, PUREfi Wealth LLC purchased a new stake in Intercontinental Exchange during the 1st quarter valued at about $214,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Intercontinental Exchange Price Performance

NYSE:ICE opened at $179.57 on Friday. Intercontinental Exchange Inc. has a 52 week low of $134.78 and a 52 week high of $182.11. The stock’s fifty day moving average is $172.32 and its two-hundred day moving average is $164.58. The company has a market capitalization of $103.01 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.94 and a beta of 1.12. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm earned $1.48 EPS. Intercontinental Exchange’s revenue was up 8.0% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer now owns 13,220 shares of the company’s stock, valued at $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction on 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 owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently owned by 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.