Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Raised by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 126.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 222,873 shares of the financial services provider’s stock after buying an additional 124,391 shares during the period. Tidal Investments LLC’s holdings in Intercontinental Exchange were worth $33,210,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $34,000. BankPlus Trust Department bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $40,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $44,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.7%

Shares of NYSE:ICE opened at $176.10 on Friday. The company has a 50 day moving average of $167.31 and a 200-day moving average of $161.23. The firm has a market cap of $101.01 billion, a P/E ratio of 36.84, a P/E/G ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a twelve month low of $131.79 and a twelve month high of $179.44. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total value of $1,314,244.00. Following the sale, the president now directly owns 160,059 shares in the company, valued at $26,627,415.24. The trade was a 4.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 6,834 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the completion of the sale, the insider now owns 17,972 shares in the company, valued at $3,001,144.28. The trade was a 27.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,368 shares of company stock valued at $7,077,789. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America reduced 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 note on Wednesday, April 2nd. Barclays boosted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods boosted their target price 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 investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.93.

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.