Biltmore Family Office LLC bought a new stake in Intercontinental Exchange Inc (NYSE:ICE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 16,875 shares of the financial services provider’s stock, valued at approximately $1,191,000.
Other large investors also recently added to or reduced their stakes in the company. Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $109,000. Valeo Financial Advisors LLC increased its holdings in shares of Intercontinental Exchange by 257.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 1,172 shares during the period. SeaCrest Wealth Management LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $122,000. Cerebellum GP LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $127,000. Finally, Americafirst Capital Management LLC acquired a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $145,000. 90.74% of the stock is currently owned by institutional investors and hedge funds.
Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $74.31 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Intercontinental Exchange Inc has a 12 month low of $57.91 and a 12 month high of $76.30. The firm has a market capitalization of $43,270.00, a P/E ratio of 25.28, a P/E/G ratio of 2.65 and a beta of 0.63.
Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. research analysts anticipate that Intercontinental Exchange Inc will post 3.56 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be paid a $0.24 dividend. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 27.21%.
In related news, insider Thomas W. Farley sold 18,046 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $73.97, for a total value of $1,334,862.62. Following the sale, the insider now directly owns 86,293 shares in the company, valued at $6,383,093.21. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.34, for a total value of $9,698,848.30. Following the completion of the sale, the chief executive officer now owns 1,454,661 shares in the company, valued at $106,684,837.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,201 shares of company stock worth $13,690,343. Company insiders own 1.50% of the company’s stock.
ICE has been the topic of a number of recent research reports. Zacks Investment Research lowered Intercontinental Exchange from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $76.00 to $83.00 in a report on Tuesday, February 20th. Argus boosted their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Berenberg Bank initiated coverage on Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Finally, Bank of America dropped their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Intercontinental Exchange presently has an average rating of “Buy” and a consensus price target of $76.62.
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About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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