Bridgefront Capital LLC Takes Position in Intercontinental Exchange Inc. $ICE

Bridgefront Capital LLC acquired a new position in Intercontinental Exchange Inc. (NYSE:ICE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,950 shares of the financial services provider’s stock, valued at approximately $665,000.

Several other institutional investors have also recently made changes to their positions in ICE. Private Wealth Management Group LLC grew its position in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the period. Knuff & Co LLC raised its stake in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the last quarter. Caitlin John LLC acquired a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $32,000. Cornerstone Planning Group LLC lifted its holdings in shares of Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after buying an additional 153 shares during the period. Finally, Capital A Wealth Management LLC boosted its stake in shares of Intercontinental Exchange by 26,000.0% in the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. UBS Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Buy” and a consensus price target of $194.73.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction on Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the completion of the sale, the president owned 165,304 shares in the company, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last 90 days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $159.12 on Monday. The stock has a market capitalization of $90.36 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.72 and a beta of 1.04. The stock has a 50-day moving average of $164.52 and a 200 day moving average of $162.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion for 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%.Intercontinental Exchange’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.52 earnings per share. Sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Intercontinental Exchange Company Profile

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.