Cable Hill Partners LLC Buys New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Cable Hill Partners LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,268 shares of the financial services provider’s stock, valued at approximately $204,000.

Other hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Intercontinental Exchange during the third quarter worth about $227,000. Oppenheimer Asset Management Inc. raised its stake in Intercontinental Exchange by 2.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 121,325 shares of the financial services provider’s stock valued at $19,490,000 after buying an additional 2,960 shares in the last quarter. Angeles Investment Advisors LLC acquired a new stake in Intercontinental Exchange during the third quarter valued at approximately $405,000. Pinnacle Financial Partners Inc grew its holdings in shares of Intercontinental Exchange by 0.4% during the third quarter. Pinnacle Financial Partners Inc now owns 80,945 shares of the financial services provider’s stock valued at $13,003,000 after purchasing an additional 351 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $733,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $161.43, for a total value of $121,072.50. Following the transaction, the chief financial officer now directly owns 16,576 shares of the company’s stock, valued at approximately $2,675,863.68. This represents a 4.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. This trade represents a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $156.48 on Friday. The stock has a fifty day moving average of $161.20 and a 200-day moving average of $149.70. The company has a market capitalization of $89.85 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $110.11 and a one year high of $167.99. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is currently 42.65%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Tuesday. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Company 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.