Capital Impact Advisors LLC Makes New $1.08 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Capital Impact Advisors LLC purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,701 shares of the financial services provider’s stock, valued at approximately $1,083,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. GPS Wealth Strategies Group LLC purchased a new stake in shares of Intercontinental Exchange in the 1st quarter valued at $26,000. Alpha Paradigm Partners LLC purchased a new stake in shares of Intercontinental Exchange in the 1st quarter valued at $26,000. Reilly Financial Advisors LLC boosted its stake in shares of Intercontinental Exchange by 68.0% in the 1st quarter. Reilly Financial Advisors LLC now owns 252 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 102 shares in the last quarter. Pinnacle Bancorp Inc. boosted its stake in shares of Intercontinental Exchange by 743.3% in the 1st quarter. Pinnacle Bancorp Inc. now owns 253 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 223 shares in the last quarter. Finally, Concord Wealth Partners purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $29,000. 87.50% of the stock is owned by institutional investors and hedge funds.

In related news, CEO Jeffrey C. Sprecher sold 109,037 shares of the stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $112.93, for a total transaction of $12,313,548.41. Following the sale, the chief executive officer now directly owns 1,402,345 shares of the company’s stock, valued at approximately $158,366,820.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 1,458 shares of the stock in a transaction dated Wednesday, May 26th. The shares were sold at an average price of $112.96, for a total transaction of $164,695.68. Following the sale, the general counsel now directly owns 40,727 shares in the company, valued at $4,600,521.92. The disclosure for this sale can be found here. Insiders sold a total of 113,147 shares of company stock worth $12,785,325 over the last ninety days. Insiders own 1.30% of the company’s stock.

ICE has been the subject of a number of research reports. Rosenblatt Securities upped their price objective on shares of Intercontinental Exchange from $133.00 to $134.00 and gave the company a “buy” rating in a research note on Friday, April 30th. Zacks Investment Research raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $127.00 price objective for the company in a research note on Monday, April 19th. Raymond James upped their price objective on shares of Intercontinental Exchange from $133.00 to $136.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 6th. Morgan Stanley assumed coverage on shares of Intercontinental Exchange in a report on Friday, June 11th. They set an “equal weight” rating and a $122.00 price target for the company. Finally, The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “buy” rating to a “conviction-buy” rating in a report on Wednesday, June 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $124.58.

Shares of NYSE ICE opened at $120.23 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71. Intercontinental Exchange, Inc. has a 12 month low of $92.41 and a 12 month high of $121.96. The company has a market cap of $67.66 billion, a price-to-earnings ratio of 26.07 and a beta of 0.73. The stock has a fifty day moving average of $114.95.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, April 29th. The financial services provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.04. The business had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. Intercontinental Exchange had a net margin of 24.36% and a return on equity of 13.50%. The company’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.28 EPS. Research analysts expect that Intercontinental Exchange, Inc. will post 4.98 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Tuesday, June 15th. Intercontinental Exchange’s dividend payout ratio is presently 29.27%.

About Intercontinental Exchange

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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