First Business Financial Services Inc. Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

First Business Financial Services Inc. boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,163 shares of the financial services provider’s stock after buying an additional 629 shares during the period. First Business Financial Services Inc.’s holdings in Intercontinental Exchange were worth $2,436,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ICE. New Millennium Group LLC purchased a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $25,000. International Assets Investment Management LLC acquired a new position in Intercontinental Exchange during the 2nd quarter worth $25,000. Fairscale Capital LLC purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC raised its position in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter valued at about $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 11.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This trade represents a 4.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ICE shares. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Bank of America upped their price objective on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. Barclays reduced their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Finally, Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Trading Up 0.4 %

Shares of ICE stock opened at $156.48 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a 50-day simple moving average of $161.20 and a 200 day simple moving average of $149.70. Intercontinental Exchange, Inc. has a fifty-two week low of $110.11 and a fifty-two week high of $167.99. The stock has a market capitalization of $89.85 billion, a P/E ratio of 37.08, a P/E/G ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $1.46 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.