CoreCap Advisors LLC Has $343,000 Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

CoreCap Advisors LLC boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 271.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,300 shares of the financial services provider’s stock after purchasing an additional 1,680 shares during the quarter. CoreCap Advisors LLC’s holdings in Intercontinental Exchange were worth $343,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ICE. Sierra Ocean LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $34,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $40,000. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $44,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $178.73 on Friday. The stock has a 50-day moving average of $166.93 and a 200-day moving average of $160.97. Intercontinental Exchange, Inc. has a one year low of $131.79 and a one year high of $179.44. The stock has a market cap of $102.52 billion, a PE ratio of 37.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business posted $1.48 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 39.75%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ICE. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a report on Friday, May 2nd. Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Bank of America lowered their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,368 shares of company stock valued at $7,077,789 over the last 90 days. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Profile

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.