Golden State Equity Partners Decreases Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Golden State Equity Partners decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,583 shares of the financial services provider’s stock after selling 73 shares during the period. Golden State Equity Partners’ holdings in Intercontinental Exchange were worth $273,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mattern Wealth Management LLC purchased a new stake in Intercontinental Exchange in the 1st quarter valued at about $201,000. Global Assets Advisory LLC purchased a new stake in Intercontinental Exchange in the 1st quarter valued at about $314,000. Mill Capital Management LLC increased its stake in Intercontinental Exchange by 0.8% in the 1st quarter. Mill Capital Management LLC now owns 140,461 shares of the financial services provider’s stock valued at $24,230,000 after buying an additional 1,092 shares during the last quarter. Invesco LLC increased its stake in shares of Intercontinental Exchange by 36.9% during the 1st quarter. Invesco LLC now owns 14,914 shares of the financial services provider’s stock worth $2,573,000 after purchasing an additional 4,021 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC increased its stake in shares of Intercontinental Exchange by 0.4% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 302,757 shares of the financial services provider’s stock worth $52,226,000 after purchasing an additional 1,325 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.2%

ICE opened at $180.97 on Friday. The company has a 50 day moving average of $174.49 and a 200 day moving average of $165.41. The company has a market cap of $103.81 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Intercontinental Exchange Inc. has a 12 month low of $136.21 and a 12 month high of $181.98. 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 (NYSE:ICE) last released its quarterly earnings data 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 company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $1.48 EPS. On average, sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current 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 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 552 shares of the firm’s stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the completion of the transaction, the insider now directly owns 15,658 shares of the company’s stock, valued at $2,732,634.16. This trade represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Judith A. Sprieser sold 2,630 shares of the firm’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 completion of the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock valued at $40,796,663 in the last three months. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research analyst reports. Bank of America decreased their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Barclays raised their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $188.46.

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.