Oak Ridge Investments LLC Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Oak Ridge Investments LLC boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,001 shares of the financial services provider’s stock after buying an additional 2,968 shares during the period. Oak Ridge Investments LLC’s holdings in Intercontinental Exchange were worth $6,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after purchasing an additional 3,536,913 shares during the period. CCLA Investment Management grew its holdings in shares of Intercontinental Exchange by 91,838.2% during the first quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock worth $152,923,000 after buying an additional 1,113,079 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in Intercontinental Exchange in the 2nd quarter worth approximately $124,508,000. Janus Henderson Group PLC grew its holdings in Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after buying an additional 687,817 shares in the last quarter. Finally, James Hambro & Partners acquired a new stake in shares of Intercontinental Exchange during the 2nd quarter worth approximately $93,340,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 6.4 %

Shares of NYSE ICE opened at $155.87 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.69. Intercontinental Exchange, Inc. has a 12-month low of $104.91 and a 12-month high of $167.99. The stock has a fifty day moving average price of $162.09 and a 200 day moving average price of $148.03. The company has a market cap of $89.49 billion, a P/E ratio of 38.58, a P/E/G ratio of 2.51 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.03. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. Intercontinental Exchange’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.43 EPS. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.13 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s payout ratio is currently 44.55%.

Analyst Upgrades and Downgrades

ICE has been the subject of several research reports. Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday, October 4th. TD Cowen started coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a report on Monday, October 14th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $173.93.

Insider Activity at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 750 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total transaction of $121,072.50. Following the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 16,576 shares in the company, valued at approximately $2,675,863.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,489 shares of company stock valued at $1,202,259. Corporate insiders own 1.10% of the company’s stock.

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.