Lido Advisors LLC Grows Stake in Intercontinental Exchange Inc. $ICE

Lido Advisors LLC grew its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 39.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 153,081 shares of the financial services provider’s stock after purchasing an additional 42,980 shares during the quarter. Lido Advisors LLC’s holdings in Intercontinental Exchange were worth $25,791,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Dynasty Wealth Management LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter valued at $897,000. Rockland Trust Co. increased its stake in Intercontinental Exchange by 19.7% during the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after buying an additional 20,981 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in Intercontinental Exchange by 37.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after buying an additional 3,261 shares in the last quarter. Eastern Bank lifted its holdings in Intercontinental Exchange by 14.6% in the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after buying an additional 25,980 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its position in Intercontinental Exchange by 1.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after buying an additional 13,497 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research note on Friday, March 6th. UBS Group reissued a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $194.73.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 12,861 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the transaction, the president owned 165,692 shares in the company, valued at approximately $27,339,180. This trade represents a 7.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

ICE opened at $161.44 on Tuesday. The company has a market capitalization of $91.68 billion, a P/E ratio of 27.98, a PEG ratio of 1.72 and a beta of 1.04. The company has a 50-day moving average of $164.44 and a 200-day moving average of $162.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.52 earnings per share. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 33.28%.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.