Crestwood Advisors Group LLC Invests $1.71 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Crestwood Advisors Group LLC purchased a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,483 shares of the financial services provider’s stock, valued at approximately $1,711,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. boosted its position in shares of Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 62 shares during the period. Integrated Advisors Network LLC boosted its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares during the period. Strategic Advisors LLC grew its position in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 66 shares in the last quarter. Commons Capital LLC grew its position in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 70 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, UBS Group increased their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $168.49 on Tuesday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $169.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $96.81 billion, a price-to-earnings ratio of 35.25, a PEG ratio of 2.10 and a beta of 1.11. The firm has a 50 day simple moving average of $155.70 and a 200 day simple moving average of $158.33.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 37.66%.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now directly owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,368 shares of company stock valued at $9,908,492. 1.10% of the stock is currently owned by corporate insiders.

About Intercontinental Exchange

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.