Sapient Capital LLC Takes $12.86 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sapient Capital LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 100,103 shares of the financial services provider’s stock, valued at approximately $12,856,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Equity Services LLC lifted its stake in Intercontinental Exchange by 4.3% during the third quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock worth $4,534,000 after purchasing an additional 1,716 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in Intercontinental Exchange by 12.8% during the 3rd quarter. Simon Quick Advisors LLC now owns 2,051 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 232 shares during the period. Stratos Wealth Partners LTD. grew its holdings in Intercontinental Exchange by 2.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 35,309 shares of the financial services provider’s stock worth $3,885,000 after acquiring an additional 954 shares during the period. Stonegate Investment Group LLC grew its holdings in Intercontinental Exchange by 11.7% during the 3rd quarter. Stonegate Investment Group LLC now owns 2,096 shares of the financial services provider’s stock worth $231,000 after acquiring an additional 220 shares during the period. Finally, NorthRock Partners LLC grew its holdings in Intercontinental Exchange by 16.5% during the 3rd quarter. NorthRock Partners LLC now owns 3,139 shares of the financial services provider’s stock worth $345,000 after acquiring an additional 445 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the sale, the general counsel now owns 48,713 shares in the company, valued at approximately $6,417,450.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the transaction, the president now directly owns 138,487 shares in the company, valued at approximately $18,659,738.38. The transaction 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 341 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders sold a total of 157,832 shares of company stock worth $21,499,127 in the last quarter. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ICE. Barclays decreased their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday. UBS Group raised their target price 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 reduced their target price 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. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Keefe, Bruyette & Woods reduced their target price on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $3.96 during mid-day trading on Friday, hitting $130.50. 3,991,238 shares of the stock were exchanged, compared to its average volume of 2,404,087. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a 50-day simple moving average of $135.01 and a 200 day simple moving average of $125.81. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.01. The company has a market capitalization of $74.73 billion, a P/E ratio of 29.93, a P/E/G ratio of 2.14 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, hitting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 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 Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Intercontinental Exchange’s payout ratio is currently 41.28%.

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.