Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,253,168 shares of the financial services provider’s stock after purchasing an additional 68,626 shares during the quarter. Raymond James & Associates owned 0.39% of Intercontinental Exchange worth $309,653,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Flagship Harbor Advisors LLC lifted its stake in shares of Intercontinental Exchange by 17.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,941 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 447 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter valued at $203,000. Coastline Trust Co grew its holdings in Intercontinental Exchange by 9.8% during the third quarter. Coastline Trust Co now owns 4,031 shares of the financial services provider’s stock worth $443,000 after acquiring an additional 360 shares during the period. Oak Thistle LLC bought a new stake in Intercontinental Exchange in the third quarter worth about $627,000. Finally, Timber Creek Capital Management LLC lifted its holdings in Intercontinental Exchange by 42.0% in the 3rd quarter. Timber Creek Capital Management LLC now owns 34,372 shares of the financial services provider’s stock valued at $3,782,000 after acquiring an additional 10,167 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE:ICE traded down $0.12 during trading on Friday, reaching $131.70. 2,406,708 shares of the company traded hands, compared to its average volume of 2,148,893. The firm has a fifty day simple moving average of $135.86 and a 200 day simple moving average of $125.19. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The firm has a market cap of $75.41 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 2.16 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period last year, the company earned $1.25 earnings per share. Intercontinental Exchange’s quarterly revenue was up 24.5% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Intercontinental Exchange’s payout ratio is presently 42.86%.

Analyst Upgrades and Downgrades

Several analysts recently commented on ICE shares. Bank of America cut their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Barclays boosted their price objective on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Raymond James raised their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $148.08.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now directly owns 138,487 shares in the company, valued at $18,659,738.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the transaction, the insider now owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now owns 138,487 shares of the company’s stock, valued at $18,659,738.38. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is owned by corporate insiders.

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.