Castleview Partners LLC Takes Position in Intercontinental Exchange Inc. (NYSE:ICE)

Castleview Partners LLC purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,164 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. REAP Financial Group LLC raised its stake in shares of Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 143 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of Intercontinental Exchange during the first quarter valued at approximately $31,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $33,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ICE. Barclays lifted their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Morgan Stanley lifted their price objective 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. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Finally, Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

Intercontinental Exchange Price Performance

NYSE ICE opened at $178.27 on Friday. The firm’s fifty day simple moving average is $172.76 and its two-hundred day simple moving average is $164.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12-month low of $136.21 and a 12-month high of $181.65. The firm has a market capitalization of $102.26 billion, a P/E ratio of 36.91, a P/E/G ratio of 1.93 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping 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 business 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 company earned $1.48 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company 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 annualized dividend and a yield of 1.08%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president now directly owns 27,313 shares of the company’s stock, valued at $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,954 shares of company stock valued at $40,796,663. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange 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.