Thurston Springer Miller Herd & Titak Inc. Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Thurston Springer Miller Herd & Titak Inc. grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 32.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,781 shares of the financial services provider’s stock after purchasing an additional 3,400 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Intercontinental Exchange were worth $2,377,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $25,000. REAP Financial Group LLC lifted its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after buying an additional 91 shares in the last quarter. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $29,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $33,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at approximately $34,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $188.46.

Intercontinental Exchange Stock Down 0.0%

Shares of ICE opened at $179.29 on Thursday. Intercontinental Exchange, Inc. has a 52-week low of $132.93 and a 52-week high of $180.89. The company has a market capitalization of $102.85 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The stock has a fifty day simple moving average of $168.33 and a two-hundred day simple moving average of $163.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $1.48 EPS. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 39.75%.

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 397 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value of $70,312.67. Following the sale, the director now directly owns 4,526 shares in the company, valued at approximately $801,599.86. The trade was a 8.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,191 shares of company stock worth $694,978. Company insiders own 1.00% 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.