Skye Global Management LP Invests $2.50 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Skye Global Management LP purchased a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,800 shares of the financial services provider’s stock, valued at approximately $2,503,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Capital Investment Advisors LLC increased its stake in shares of Intercontinental Exchange by 8.0% during the 4th quarter. Capital Investment Advisors LLC now owns 1,506 shares of the financial services provider’s stock worth $224,000 after purchasing an additional 112 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in Intercontinental Exchange by 16.7% in the fourth quarter. SeaCrest Wealth Management LLC now owns 3,315 shares of the financial services provider’s stock worth $494,000 after buying an additional 475 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Intercontinental Exchange by 14.3% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 8,303 shares of the financial services provider’s stock worth $1,237,000 after buying an additional 1,040 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Intercontinental Exchange by 21.2% in the fourth quarter. Park Avenue Securities LLC now owns 29,271 shares of the financial services provider’s stock valued at $4,362,000 after buying an additional 5,113 shares during the period. Finally, Sendero Wealth Management LLC lifted its position in shares of Intercontinental Exchange by 4.4% during the 4th quarter. Sendero Wealth Management LLC now owns 47,569 shares of the financial services provider’s stock valued at $7,088,000 after buying an additional 2,017 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. 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. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Morgan Stanley lifted 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, 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 report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Intercontinental Exchange Trading Up 1.7%

Shares of ICE stock opened at $174.91 on Friday. The company has a market capitalization of $100.33 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 52-week low of $131.79 and a 52-week high of $179.44. The business’s fifty day moving average is $167.15 and its 200 day moving average is $161.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 1.10%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now directly owns 17,972 shares in the company, valued at approximately $3,001,144.28. This represents a 27.55% 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, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction dated 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 transaction, the president now directly owns 160,059 shares in the company, valued at approximately $26,627,415.24. This represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,368 shares of company stock worth $7,077,789 over the last three months. 1.00% of the stock is owned by insiders.

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.