CIBC Private Wealth Group LLC Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

CIBC Private Wealth Group LLC raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,177,329 shares of the financial services provider’s stock after acquiring an additional 25,302 shares during the period. Intercontinental Exchange makes up 0.9% of CIBC Private Wealth Group LLC’s portfolio, making the stock its 23rd biggest position. CIBC Private Wealth Group LLC owned about 0.56% of Intercontinental Exchange worth $354,845,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Oak Ridge Investments LLC lifted its stake in shares of Intercontinental Exchange by 0.3% during the first quarter. Oak Ridge Investments LLC now owns 88,029 shares of the financial services provider’s stock worth $9,831,000 after purchasing an additional 235 shares in the last quarter. E Fund Management Co. Ltd. acquired a new position in shares of Intercontinental Exchange during the first quarter worth about $110,000. Norinchukin Bank The lifted its stake in shares of Intercontinental Exchange by 4.7% during the first quarter. Norinchukin Bank The now owns 17,339 shares of the financial services provider’s stock worth $1,936,000 after purchasing an additional 776 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Intercontinental Exchange by 0.4% during the first quarter. Sei Investments Co. now owns 169,500 shares of the financial services provider’s stock worth $19,368,000 after purchasing an additional 717 shares in the last quarter. Finally, Windsor Group LTD lifted its stake in shares of Intercontinental Exchange by 5.5% during the first quarter. Windsor Group LTD now owns 6,075 shares of the financial services provider’s stock worth $678,000 after purchasing an additional 315 shares in the last quarter. 87.67% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Lynn C. Martin sold 2,500 shares of the stock in a transaction that occurred on Thursday, April 22nd. The stock was sold at an average price of $120.00, for a total value of $300,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Scott A. Hill sold 17,095 shares of the stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $120.07, for a total value of $2,052,596.65. Following the completion of the transaction, the chief financial officer now directly owns 160,490 shares of the company’s stock, valued at $19,270,034.30. The disclosure for this sale can be found here. Insiders have sold 132,742 shares of company stock valued at $15,137,922 over the last ninety days. Corporate insiders own 1.30% of the company’s stock.

ICE has been the topic of several recent analyst reports. Morgan Stanley initiated coverage on Intercontinental Exchange in a research note on Friday. They issued an “equal weight” rating and a $122.00 price target on the stock. Raymond James boosted their price target on Intercontinental Exchange from $133.00 to $136.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, April 6th. Rosenblatt Securities boosted their price target on Intercontinental Exchange from $133.00 to $134.00 and gave the stock a “buy” rating in a research note on Friday, April 30th. Finally, Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $127.00 price target on the stock in a research note on Monday, April 19th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $123.38.

Shares of NYSE:ICE traded up $0.59 during trading on Friday, hitting $112.31. 10,106 shares of the company traded hands, compared to its average volume of 2,398,273. The company has a market capitalization of $63.20 billion, a PE ratio of 29.95, a price-to-earnings-growth ratio of 2.62 and a beta of 0.73. The stock has a fifty day simple moving average of $114.89. Intercontinental Exchange, Inc. has a one year low of $90.01 and a one year high of $121.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.71.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, April 29th. The financial services provider reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.04. The company had revenue of $1.80 billion during the quarter, compared to analyst estimates of $1.75 billion. Intercontinental Exchange had a return on equity of 13.50% and a net margin of 24.36%. The business’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.28 earnings per share. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, June 16th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, June 15th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 29.27%.

About Intercontinental Exchange

Intercontinental Exchange, Inc 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.

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

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