TigerOak Management L.L.C. Cuts Stake in Intercontinental Exchange Inc. (NYSE:ICE)

TigerOak Management L.L.C. cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 1.1% during the 1st quarter, HoldingsChannel reports. The fund owned 7,495 shares of the financial services provider’s stock after selling 85 shares during the quarter. TigerOak Management L.L.C.’s holdings in Intercontinental Exchange were worth $1,293,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in ICE. Alpine Bank Wealth Management purchased a new position in Intercontinental Exchange in the 1st quarter worth $209,000. HBK Sorce Advisory LLC grew its stake in shares of Intercontinental Exchange by 15.0% during the first quarter. HBK Sorce Advisory LLC now owns 2,027 shares of the financial services provider’s stock valued at $350,000 after buying an additional 264 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Intercontinental Exchange by 279.7% in the first quarter. Golden State Wealth Management LLC now owns 1,310 shares of the financial services provider’s stock worth $226,000 after buying an additional 965 shares during the period. Corundum Group Inc. increased its holdings in shares of Intercontinental Exchange by 21.0% in the first quarter. Corundum Group Inc. now owns 1,664 shares of the financial services provider’s stock worth $287,000 after buying an additional 289 shares during the period. Finally, Daymark Wealth Partners LLC lifted its stake in shares of Intercontinental Exchange by 7.0% in the 1st quarter. Daymark Wealth Partners LLC now owns 21,480 shares of the financial services provider’s stock valued at $3,705,000 after acquiring an additional 1,403 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Morgan Stanley raised 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. Bank of America cut their target price 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. Keefe, Bruyette & Woods upped their price target 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, Barclays increased their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $180.61 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $174.03 and its 200 day simple moving average is $165.23. The stock has a market cap of $103.60 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Intercontinental Exchange Inc. has a twelve month low of $136.21 and a twelve month high of $181.65.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.48 EPS. As a group, research analysts predict 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. 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 1.06%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction 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 directly owns 13,220 shares of the company’s stock, valued at $2,379,600. This represents 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 at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the transaction, the chief executive officer now directly owns 2,101,705 shares of the company’s stock, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In 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 corporate 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.