TigerOak Management L.L.C. Decreases Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

TigerOak Management L.L.C. decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,495 shares of the financial services provider’s stock after selling 85 shares during the period. TigerOak Management L.L.C.’s holdings in Intercontinental Exchange were worth $1,293,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $1,196,258,000. Royal Bank of Canada grew its holdings in Intercontinental Exchange by 132.9% during the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC increased its position in Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after buying an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $406,728,000. Finally, GAMMA Investing LLC raised its stake in shares of Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after buying an additional 2,255,507 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.1%

ICE opened at $180.61 on Thursday. The firm has a market capitalization of $103.60 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. Intercontinental Exchange Inc. has a one year low of $136.21 and a one year high of $181.65. The company has a fifty day moving average price of $174.03 and a 200-day moving average price of $165.23. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.48 earnings per share. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal 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 issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling

In other news, Director Martha A. Tirinnanzi sold 397 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the sale, the director now directly owns 4,526 shares of the company’s stock, valued at approximately $801,599.86. The trade was a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president now directly owns 27,313 shares in the company, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 227,954 shares of company stock worth $40,796,663. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Bank of America cut their target price 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. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods upped their price target 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average 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.