Summit Financial LLC Acquires 747 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Summit Financial LLC grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,828 shares of the financial services provider’s stock after purchasing an additional 747 shares during the period. Summit Financial LLC’s holdings in Intercontinental Exchange were worth $868,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ICE. Edgestream Partners L.P. bought a new position in shares of Intercontinental Exchange in the third quarter worth $516,000. Atom Investors LP bought a new position in Intercontinental Exchange in the 3rd quarter worth about $305,000. Benjamin Edwards Inc. increased its position in shares of Intercontinental Exchange by 150.4% during the third quarter. Benjamin Edwards Inc. now owns 7,191 shares of the financial services provider’s stock valued at $1,155,000 after buying an additional 4,319 shares during the period. Centiva Capital LP boosted its position in shares of Intercontinental Exchange by 114.0% in the third quarter. Centiva Capital LP now owns 8,883 shares of the financial services provider’s stock valued at $1,427,000 after acquiring an additional 4,733 shares during the period. Finally, Hilltop Holdings Inc. purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $1,405,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the sale, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock worth $10,998,990 over the last 90 days. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ICE has been the topic of several research analyst reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $182.47.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $170.43 on Thursday. The business has a 50 day moving average price of $168.31 and a 200-day moving average price of $160.78. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $97.92 billion, a PE ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

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.