Intercontinental Exchange Inc. (NYSE:ICE) Shares Bought by Oak Ridge Investments LLC

Oak Ridge Investments LLC lifted its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 5.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 46,025 shares of the financial services provider’s stock after acquiring an additional 2,523 shares during the quarter. Oak Ridge Investments LLC’s holdings in Intercontinental Exchange were worth $7,939,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ICE. Royal Bank of Canada boosted its holdings in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC boosted its holdings in shares of 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 period. Nuveen LLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth about $575,383,000. GAMMA Investing LLC boosted its holdings 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 worth $3,906,700,000 after buying an additional 2,255,507 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock worth $1,023,534,000 after buying an additional 1,993,084 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $181.21 on Thursday. The firm has a market cap of $103.73 billion, a PE ratio of 34.78, a PEG ratio of 2.17 and a beta of 1.11. The firm’s 50 day moving average price is $181.89 and its 200 day moving average price is $173.08. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 earnings per share. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange’s payout ratio is presently 36.85%.

Insider Activity

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares of the company’s stock, 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 is available through the SEC website. Also, 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 transaction, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,913 shares of company stock valued at $40,671,107. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Barclays raised their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Piper Sandler raised their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an “overweight” rating in a report 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.92.

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.