PGGM Investments Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

PGGM Investments boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 87.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 8,388 shares of the financial services provider’s stock after acquiring an additional 3,910 shares during the period. PGGM Investments’ holdings in Intercontinental Exchange were worth $1,153,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Annapolis Financial Services LLC raised its stake in shares of Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 163 shares during the period. Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange in the first quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Venturi Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 82.3% during the first quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after buying an additional 93 shares during the period. Finally, Stuart Chaussee & Associates Inc. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $28,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE traded down $1.15 during mid-day trading on Friday, reaching $149.85. 4,482,290 shares of the stock were exchanged, compared to its average volume of 2,931,175. The stock has a market capitalization of $85.95 billion, a P/E ratio of 34.37, a P/E/G ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $153.28. The company has a 50 day simple moving average of $141.10 and a 200-day simple moving average of $136.39. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The business had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $1.43 earnings per share. Analysts anticipate that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.45 per share. The ex-dividend date is Monday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.20%. Intercontinental Exchange’s dividend payout ratio (DPR) is 41.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the sale, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at approximately $2,675,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO James W. Namkung sold 1,043 shares of Intercontinental Exchange stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total value of $156,450.00. Following the sale, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 395 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $141.13, for a total transaction of $55,746.35. Following the transaction, the chief technology officer now directly owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Insiders have sold a total of 64,992 shares of company stock valued at $9,197,801 over the last quarter. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ICE shares. Argus restated a “buy” rating and set a $153.00 target price on shares of Intercontinental Exchange in a report on Tuesday, May 21st. The Goldman Sachs Group upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their target price for the stock from $143.00 to $167.00 in a report on Monday, July 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and dropped their price target for the stock from $155.00 to $152.00 in a research note on Friday. Citigroup lifted their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $153.86.

Intercontinental Exchange Company 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.