Summit Trail Advisors LLC Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Summit Trail Advisors LLC lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 13.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,400 shares of the financial services provider’s stock after acquiring an additional 644 shares during the quarter. Summit Trail Advisors LLC’s holdings in Intercontinental Exchange were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Quintet Private Bank Europe S.A. lifted its holdings in Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 63 shares during the period. Integrated Advisors Network LLC lifted its stake in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after buying an additional 66 shares in the last quarter. Commons Capital LLC lifted its stake in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after buying an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its holdings in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after buying an additional 70 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.96 on Wednesday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $169.75. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average is $153.53 and its 200 day moving average is $157.19. The company has a market cap of $95.93 billion, a price-to-earnings ratio of 34.93, a PEG ratio of 3.21 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results 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%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.63 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Activity

In related news, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock valued at $5,535,650 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ICE shares. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. lowered their target price 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

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.