Verity Asset Management Inc. Invests $207,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Verity Asset Management Inc. purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,567 shares of the financial services provider’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its holdings in Intercontinental Exchange by 13.0% in the 4th quarter. BlackRock Inc. now owns 46,929,022 shares of the financial services provider’s stock valued at $6,418,482,000 after purchasing an additional 5,408,445 shares during the last quarter. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 2.5% in the 1st quarter. Vanguard Group Inc. now owns 44,599,297 shares of the financial services provider’s stock valued at $5,892,459,000 after purchasing an additional 1,100,806 shares during the last quarter. State Street Corp increased its holdings in Intercontinental Exchange by 3.3% in the 4th quarter. State Street Corp now owns 25,791,770 shares of the financial services provider’s stock valued at $3,527,540,000 after purchasing an additional 819,503 shares during the last quarter. Geode Capital Management LLC increased its holdings in Intercontinental Exchange by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 9,503,613 shares of the financial services provider’s stock valued at $1,296,309,000 after purchasing an additional 290,045 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in Intercontinental Exchange by 0.9% in the 1st quarter. Mawer Investment Management Ltd. now owns 7,089,422 shares of the financial services provider’s stock valued at $936,654,000 after purchasing an additional 66,301 shares during the last quarter. Institutional investors and hedge funds own 87.00% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $107.73, for a total value of $172,368.00. Following the transaction, the senior vice president now directly owns 22,402 shares in the company, valued at $2,413,367.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $107.73, for a total transaction of $172,368.00. Following the transaction, the senior vice president now directly owns 22,402 shares in the company, valued at $2,413,367.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the business’s stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.00, for a total transaction of $267,500.00. Following the transaction, the general counsel now owns 42,007 shares in the company, valued at $4,494,749. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $98.39 on Friday. The stock has a market cap of $54.95 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 3.60 and a beta of 0.89. The company has a fifty day simple moving average of $102.12 and a 200-day simple moving average of $109.28. Intercontinental Exchange, Inc. has a 12-month low of $90.05 and a 12-month high of $139.79. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.79.

Intercontinental Exchange (NYSE:ICEGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.32 EPS for the quarter, topping the consensus estimate of $1.31 by $0.01. Intercontinental Exchange had a net margin of 35.58% and a return on equity of 13.52%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same period last year, the business earned $1.16 EPS. Intercontinental Exchange’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.36 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.52 dividend on an annualized basis and a yield of 1.54%. Intercontinental Exchange’s dividend payout ratio is presently 25.46%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research reports. UBS Group dropped their target price on shares of Intercontinental Exchange from $134.00 to $126.00 in a report on Monday, July 11th. Atlantic Securities raised their price target on shares of Intercontinental Exchange from $120.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, August 19th. Rosenblatt Securities initiated coverage on shares of Intercontinental Exchange in a research report on Tuesday, August 16th. They issued a “buy” rating and a $164.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $124.00 to $131.00 and gave the company a “buy” rating in a research report on Friday, August 12th. Finally, Raymond James decreased their price target on shares of Intercontinental Exchange from $142.00 to $126.00 and set a “strong-buy” rating for the company in a research report on Wednesday, June 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.75.

Intercontinental Exchange Profile

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

See Also

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

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