First Trust Direct Indexing L.P. Has $1.85 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

First Trust Direct Indexing L.P. increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,394 shares of the financial services provider’s stock after buying an additional 1,489 shares during the period. First Trust Direct Indexing L.P.’s holdings in Intercontinental Exchange were worth $1,849,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Summit Financial LLC raised its holdings in Intercontinental Exchange by 3.6% during the 4th quarter. Summit Financial LLC now owns 4,246 shares of the financial services provider’s stock worth $545,000 after purchasing an additional 148 shares during the last quarter. New York Life Investment Management LLC increased its stake in shares of Intercontinental Exchange by 0.6% in the 4th quarter. New York Life Investment Management LLC now owns 89,165 shares of the financial services provider’s stock valued at $11,451,000 after acquiring an additional 502 shares during the last quarter. Berry Wealth Group LP bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $454,000. Hexagon Capital Partners LLC increased its stake in shares of Intercontinental Exchange by 180.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 541 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 348 shares during the last quarter. Finally, Savant Capital LLC increased its stake in shares of Intercontinental Exchange by 29.0% in the 4th quarter. Savant Capital LLC now owns 8,957 shares of the financial services provider’s stock valued at $1,150,000 after acquiring an additional 2,011 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ICE. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. UBS Group upped their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, February 12th. Bank of America lowered their price target on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Barclays increased their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded down $3.21 during trading on Thursday, hitting $125.47. 1,302,171 shares of the stock were exchanged, compared to its average volume of 2,369,128. The stock has a market capitalization of $71.85 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The company has a fifty day moving average price of $135.42 and a 200-day moving average price of $125.67. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.43%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,832 shares of company stock worth $21,499,127. 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.