5,637 Shares in Intercontinental Exchange Inc. (NYSE:ICE) Acquired by Oak Thistle LLC

Oak Thistle LLC purchased a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) in the first quarter, HoldingsChannel reports. The institutional investor purchased 5,637 shares of the financial services provider’s stock, valued at approximately $972,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $1,196,258,000. Royal Bank of Canada boosted its stake in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC grew its position in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares in the last quarter. GAMMA Investing LLC raised its stake in Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after purchasing an additional 2,255,507 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Intercontinental Exchange by 50.6% during the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock valued at $1,023,534,000 after buying an additional 1,993,084 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.1%

Shares of Intercontinental Exchange stock opened at $180.98 on Thursday. The firm’s 50-day moving average price is $179.46 and its two-hundred day moving average price is $169.32. The company has a market capitalization of $103.82 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.99 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.48 EPS. On average, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Analyst Upgrades and Downgrades

ICE has been the topic of several analyst reports. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, Piper Sandler upped their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an “overweight” rating in a research note on Tuesday, July 15th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $194.42.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the transaction, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer owned 2,101,705 shares of the company’s stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,119 shares of company stock worth $40,524,217 over the last 90 days. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.