Sky Investment Group LLC Makes New $577,000 Investment in Intercontinental Exchange Inc. $ICE

Sky Investment Group LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICEFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,565 shares of the financial services provider’s stock, valued at approximately $577,000.

Several other hedge funds also recently modified their holdings of the stock. Holos Integrated Wealth LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Private Wealth Management Group LLC increased its position in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Knuff & Co LLC lifted its holdings in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares during the period. Caitlin John LLC bought a new stake in Intercontinental Exchange during the third quarter worth $32,000. Finally, Cornerstone Planning Group LLC boosted its position in Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 2.1%

ICE stock opened at $152.68 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $86.71 billion, a PE ratio of 26.46, a PEG ratio of 1.65 and a beta of 1.03. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The stock has a 50-day simple moving average of $162.52 and a two-hundred day simple moving average of $160.96.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm 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 business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.52 earnings per share. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 36.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Raymond James Financial reiterated a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Friday, March 6th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $194.73.

Get Our Latest Stock Analysis on Intercontinental Exchange

Key Headlines Impacting Intercontinental Exchange

Here are the key news stories impacting Intercontinental Exchange this week:

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 3,865 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president owned 165,304 shares of the company’s stock, valued at $25,412,183.92. This represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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