Transcend Capital Advisors LLC Increases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Transcend Capital Advisors LLC boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 23.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,312 shares of the financial services provider’s stock after buying an additional 3,445 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $2,507,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. TIAA Trust National Association raised its holdings in shares of Intercontinental Exchange by 13.2% in the 4th quarter. TIAA Trust National Association now owns 11,721 shares of the financial services provider’s stock valued at $1,505,000 after purchasing an additional 1,367 shares in the last quarter. Stonegate Investment Group LLC lifted its position in Intercontinental Exchange by 11.8% during the fourth quarter. Stonegate Investment Group LLC now owns 2,344 shares of the financial services provider’s stock valued at $301,000 after acquiring an additional 248 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $390,000. Ballentine Partners LLC lifted its stake in shares of Intercontinental Exchange by 15.6% during the fourth quarter. Ballentine Partners LLC now owns 4,436 shares of the financial services provider’s stock worth $570,000 after buying an additional 599 shares during the period. Finally, Private Trust Co. NA increased its position in shares of Intercontinental Exchange by 7.1% in the 4th quarter. Private Trust Co. NA now owns 2,886 shares of the financial services provider’s stock valued at $371,000 after acquiring an additional 191 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $167.00 in a research report on Monday, July 1st. Rosenblatt Securities restated a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research note on Friday, May 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and dropped their price target for the company from $155.00 to $152.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.86.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the transaction, the director now directly owns 28,849 shares in the company, valued at $3,882,209.93. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Judith A. Sprieser sold 2,267 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the sale, the director now owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were 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 in the company, valued at $2,675,400. 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 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.8 %

Shares of ICE stock traded down $1.15 on Friday, hitting $149.85. 4,482,290 shares of the stock traded hands, compared to its average volume of 2,931,175. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $153.28. The stock has a market capitalization of $85.95 billion, a PE ratio of 34.37, a PEG ratio of 2.68 and a beta of 1.06. The firm’s 50-day moving average price is $141.10 and its two-hundred day moving average price is $136.46. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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

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.