Ulland Investment Advisors LLC Acquires 395 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Ulland Investment Advisors LLC lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% in the first quarter, Holdings Channel.com reports. The fund owned 6,921 shares of the financial services provider’s stock after purchasing an additional 395 shares during the quarter. Intercontinental Exchange accounts for approximately 1.0% of Ulland Investment Advisors LLC’s portfolio, making the stock its 24th largest position. Ulland Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $1,194,000 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 the business. REAP Financial Group LLC lifted its holdings in Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Sierra Ocean LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at about $25,000. Menard Financial Group LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at about $29,000. Redwood Park Advisors LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at about $33,000. Finally, Lee Danner & Bass Inc. bought a new position in Intercontinental Exchange during the 4th quarter valued at about $34,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 552 shares of Intercontinental Exchange stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the completion of the sale, the insider now owns 15,658 shares in the company, valued at $2,732,634.16. The trade was a 3.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange 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 owns 21,364 shares of the company’s stock, valued at $3,396,876. This represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,354 shares of company stock valued at $40,512,695 over the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 1.1%

ICE opened at $177.43 on Thursday. The company’s 50 day moving average is $169.28 and its 200-day moving average is $163.78. Intercontinental Exchange, Inc. has a 1-year low of $133.97 and a 1-year high of $180.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $101.78 billion, a P/E ratio of 37.12, a PEG ratio of 2.10 and a beta of 1.12.

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

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.08%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Analyst Ratings Changes

Several brokerages recently issued reports on ICE. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $188.46.

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.