Chevy Chase Trust Holdings LLC Acquires 1,325 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Chevy Chase Trust Holdings LLC increased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 302,757 shares of the financial services provider’s stock after purchasing an additional 1,325 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Intercontinental Exchange were worth $52,226,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of ICE. Norges Bank bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Royal Bank of Canada increased its stake in Intercontinental Exchange by 132.9% during the 4th 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 in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $406,728,000. Finally, GAMMA Investing LLC boosted its position in Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 0.8%

NYSE ICE opened at $179.83 on Tuesday. The company has a market cap of $103.16 billion, a PE ratio of 37.23, a PEG ratio of 1.93 and a beta of 1.12. 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 stock has a 50 day moving average of $173.17 and a 200-day moving average of $165.02.

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

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ICE shares. Morgan Stanley upped their price target 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. Barclays upped their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the sale, the director now owns 4,526 shares in the company, valued at approximately $801,599.86. This represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the sale, the senior vice president now owns 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 227,954 shares of company stock worth $40,796,663. Company 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.