Valmark Advisers Inc. Has $442,000 Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Valmark Advisers Inc. decreased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,563 shares of the financial services provider’s stock after selling 230 shares during the period. Valmark Advisers Inc.’s holdings in Intercontinental Exchange were worth $442,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. REAP Financial Group LLC increased its holdings in shares of Intercontinental Exchange by 116.7% during the 4th 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 during the last quarter. Menard Financial Group LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $29,000. Rakuten Securities Inc. increased its holdings in shares of Intercontinental Exchange by 595.8% during the 1st 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 during the last quarter. Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter valued at about $31,000. Finally, Redwood Park Advisors LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $180.61 on Thursday. The stock has a 50 day moving average of $174.03 and a two-hundred day moving average of $165.23. 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 company has a market capitalization of $103.60 billion, a P/E ratio of 37.39, a P/E/G ratio of 1.95 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping 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 company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $1.48 EPS. The company’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Analysts Set New Price Targets

ICE has been the topic of a number of analyst reports. Bank of America lowered their price objective on 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 increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, Barclays increased their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $188.46.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 397 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the transaction, the director now owns 4,526 shares in the company, valued at $801,599.86. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president now owns 27,313 shares of the company’s stock, valued at $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 sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently owned by company 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.