Summit Trail Advisors LLC Buys 282 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Summit Trail Advisors LLC raised its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,801 shares of the financial services provider’s stock after purchasing an additional 282 shares during the quarter. Summit Trail Advisors LLC’s holdings in Intercontinental Exchange were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Spire Wealth Management lifted its stake in Intercontinental Exchange by 60.8% in the 4th quarter. Spire Wealth Management now owns 500 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 189 shares in the last quarter. River Global Investors LLP grew its position in Intercontinental Exchange by 55.8% in the 4th quarter. River Global Investors LLP now owns 17,853 shares of the financial services provider’s stock worth $2,293,000 after purchasing an additional 6,391 shares in the last quarter. Charles Carroll Financial Partners LLC increased its holdings in shares of Intercontinental Exchange by 46.7% in the 4th quarter. Charles Carroll Financial Partners LLC now owns 12,565 shares of the financial services provider’s stock worth $1,614,000 after buying an additional 4,000 shares during the last quarter. First National Trust Co purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $223,000. Finally, AJOVista LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $86,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Keefe, Bruyette & Woods decreased their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research report on Friday. Bank of America decreased their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, UBS Group upped their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $147.92.

Intercontinental Exchange Stock Up 1.5 %

ICE stock traded up $1.98 during midday trading on Tuesday, hitting $133.26. 637,948 shares of the company’s stock were exchanged, compared to its average volume of 2,397,207. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.76. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43. The firm has a 50 day moving average price of $134.88 and a 200-day moving average price of $126.17. The stock has a market capitalization of $76.44 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The firm’s quarterly revenue was up 20.8% compared to the same quarter last year. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 13th will be issued a $0.45 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.35%. Intercontinental Exchange’s payout ratio is presently 41.28%.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the completion of the transaction, the chief financial officer now owns 12,061 shares of the company’s stock, valued at $1,640,296. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,176 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total transaction of $295,936.00. Following the completion of the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,832 shares of company stock worth $21,499,127. Insiders own 1.10% of the company’s stock.

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.