DAVENPORT & Co LLC Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

DAVENPORT & Co LLC lifted its position in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 36.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 734,925 shares of the financial services provider’s stock after acquiring an additional 194,715 shares during the period. DAVENPORT & Co LLC’s holdings in Intercontinental Exchange were worth $94,334,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ICE. RB Capital Management LLC raised its position in shares of Intercontinental Exchange by 3.2% in the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 126 shares in the last quarter. United Bank raised its position in shares of Intercontinental Exchange by 2.7% in the 1st quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 422 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its position in shares of Intercontinental Exchange by 13.5% in the 1st quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock worth $245,000 after acquiring an additional 220 shares in the last quarter. Sei Investments Co. increased its position in Intercontinental Exchange by 31.5% during the 1st quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock valued at $27,077,000 after buying an additional 49,081 shares in the last quarter. Finally, Prudential PLC bought a new position in Intercontinental Exchange during the 1st quarter valued at approximately $1,679,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $0.47 during trading hours on Tuesday, hitting $137.50. The stock had a trading volume of 1,833,070 shares, compared to its average volume of 2,403,191. The stock’s 50-day moving average price is $134.83 and its two-hundred day moving average price is $122.40. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The stock has a market capitalization of $78.74 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 2.46 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same period in the previous year, the firm posted $1.25 earnings per share. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange, Inc. will post 5.91 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Morgan Stanley raised their price objective on Intercontinental Exchange from $133.00 to $139.00 and gave the company an “equal weight” rating in a research report on Tuesday, February 13th. UBS Group lifted their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Rosenblatt Securities lifted their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Barclays lifted their target price on Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.83.

View Our Latest Analysis on ICE

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now owns 138,487 shares in the company, valued at $18,659,738.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,491 shares of company stock worth $20,793,835 over the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Profile

(Free Report)

Intercontinental Exchange, Inc, together with its subsidiaries, engages in the provision of market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities in the United States, the United Kingdom, the European Union, Singapore, India, Abu Dhabi, Israel, and Canada.

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

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