Central Valley Advisors LLC Boosts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Central Valley Advisors LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% in the first quarter, Holdings Channel reports. The firm owned 12,252 shares of the financial services provider’s stock after buying an additional 709 shares during the quarter. Central Valley Advisors LLC’s holdings in Intercontinental Exchange were worth $2,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $51,000. Apollon Wealth Management LLC raised its position in Intercontinental Exchange by 27.2% during the fourth quarter. Apollon Wealth Management LLC now owns 18,036 shares of the financial services provider’s stock worth $2,688,000 after acquiring an additional 3,854 shares during the last quarter. Kingsview Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 1.4% in the fourth quarter. Kingsview Wealth Management LLC now owns 10,818 shares of the financial services provider’s stock valued at $1,612,000 after purchasing an additional 145 shares in the last quarter. Finally, Empowered Funds LLC grew its position in shares of Intercontinental Exchange by 22.0% in the fourth quarter. Empowered Funds LLC now owns 13,207 shares of the financial services provider’s stock valued at $1,968,000 after purchasing an additional 2,378 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the subject of several analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Barclays upped their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $188.46.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer now owns 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the sale, the general counsel now owns 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,354 shares of company stock valued at $40,512,695 over the last 90 days. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 1.5%

ICE opened at $175.99 on Tuesday. The stock’s fifty day moving average is $168.71 and its 200-day moving average is $163.61. Intercontinental Exchange, Inc. has a one year low of $132.93 and a one year high of $180.89. The company has a market capitalization of $100.95 billion, a PE ratio of 36.82, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

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.