Rockland Trust Co. Acquires 20,981 Shares of Intercontinental Exchange Inc. $ICE

Rockland Trust Co. boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 19.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,652 shares of the financial services provider’s stock after acquiring an additional 20,981 shares during the quarter. Rockland Trust Co.’s holdings in Intercontinental Exchange were worth $21,507,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ICE. Princeton Global Asset Management LLC bought a new stake in Intercontinental Exchange during the second quarter worth $28,000. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange in the 2nd quarter worth $29,000. Private Wealth Management Group LLC raised its holdings in shares of Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 66 shares during the last quarter. Knuff & Co LLC lifted its position in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares in the last quarter. Finally, Gables Capital Management Inc. boosted its holdings in Intercontinental Exchange by 100.0% during the second quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the sale, the senior vice president owned 24,196 shares in the company, valued at $3,948,787.20. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 1,572 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $153.65, for a total value of $241,537.80. Following the completion of the transaction, the chief financial officer directly owned 20,534 shares of the company’s stock, valued at $3,155,049.10. The trade was a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 168,709 shares of company stock worth $25,955,387 in the last ninety days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 0.3%

Shares of NYSE ICE opened at $169.47 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $96.24 billion, a PE ratio of 29.37, a P/E/G ratio of 2.04 and a beta of 1.02. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The business’s fifty day moving average price is $165.44 and its 200-day moving average price is $166.21.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 EPS. On average, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.2%. Intercontinental Exchange’s payout ratio is 33.28%.

Wall Street Analyst Weigh In

ICE has been the topic of several recent analyst reports. Morgan Stanley set a $180.00 target price on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. JPMorgan Chase & Co. dropped their price target on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $195.10.

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.