Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Demars Financial Group LLC

Demars Financial Group LLC grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 70.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 515,877 shares of the financial services provider’s stock after buying an additional 213,746 shares during the quarter. Demars Financial Group LLC’s holdings in Intercontinental Exchange were worth $88,989,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. NBT Bank N A NY lifted its holdings in shares of Intercontinental Exchange by 8.8% in the 1st quarter. NBT Bank N A NY now owns 13,464 shares of the financial services provider’s stock valued at $2,323,000 after buying an additional 1,091 shares during the period. Chicago Capital LLC lifted its holdings in shares of Intercontinental Exchange by 0.7% in the 1st quarter. Chicago Capital LLC now owns 571,924 shares of the financial services provider’s stock valued at $98,657,000 after buying an additional 4,106 shares during the period. Blackston Financial Advisory Group LLC lifted its holdings in shares of Intercontinental Exchange by 20.5% in the 1st quarter. Blackston Financial Advisory Group LLC now owns 3,840 shares of the financial services provider’s stock valued at $662,000 after buying an additional 652 shares during the period. Grove Bank & Trust lifted its holdings in shares of Intercontinental Exchange by 55.0% in the 1st quarter. Grove Bank & Trust now owns 4,286 shares of the financial services provider’s stock valued at $739,000 after buying an additional 1,520 shares during the period. Finally, QRG Capital Management Inc. raised its holdings in Intercontinental Exchange by 12.1% during the first quarter. QRG Capital Management Inc. now owns 19,943 shares of the financial services provider’s stock worth $3,440,000 after purchasing an additional 2,145 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president now owns 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $179.67 on Tuesday. The company has a market cap of $103.06 billion, a P/E ratio of 37.59, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52 week low of $133.97 and a 52 week high of $181.63. The business has a fifty day simple moving average of $170.89 and a 200-day simple moving average of $164.21.

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

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 1.07%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Intercontinental Exchange Company 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.