Lyell Wealth Management LP Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Lyell Wealth Management LP bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, Holdings Channel.com reports. The fund bought 2,740 shares of the financial services provider’s stock, valued at approximately $352,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after purchasing an additional 1,012,034 shares during the period. Wellington Management Group LLP lifted its holdings in Intercontinental Exchange by 219.8% in the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after acquiring an additional 8,348,126 shares during the last quarter. Northern Trust Corp increased its stake in shares of Intercontinental Exchange by 3.9% in the third quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock valued at $832,623,000 after purchasing an additional 282,963 shares during the period. Invesco Ltd. increased its stake in shares of Intercontinental Exchange by 21.1% in the third quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after purchasing an additional 1,058,536 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in shares of Intercontinental Exchange by 3.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock valued at $533,292,000 after acquiring an additional 173,236 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ICE. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $152.00 target price on shares of Intercontinental Exchange in a report on Thursday, April 4th. Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. JPMorgan Chase & Co. increased their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $148.08.

Intercontinental Exchange Trading Down 0.6 %

Shares of ICE stock traded down $0.74 during trading hours on Thursday, hitting $131.83. 1,467,046 shares of the company were exchanged, compared to its average volume of 2,378,042. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The firm has a fifty day moving average of $136.07 and a 200 day moving average of $125.00. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a market cap of $75.49 billion, a PE ratio of 31.56, a PEG ratio of 2.17 and a beta of 1.02.

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

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Insider Activity

In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s 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 in the company, valued at $2,276,461.26. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is owned by corporate 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.