Parr Mcknight Wealth Management Group LLC Acquires New Position in Intercontinental Exchange Inc. $ICE

Parr Mcknight Wealth Management Group LLC bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 12,580 shares of the financial services provider’s stock, valued at approximately $2,119,000.

A number of other hedge funds also recently added to or reduced their stakes in ICE. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 1.4% during the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock worth $9,849,677,000 after acquiring an additional 745,135 shares during the period. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after purchasing an additional 145,961 shares during the last quarter. Norges Bank purchased a new position in Intercontinental Exchange in the second quarter valued at approximately $1,542,780,000. Sands Capital Management LLC increased its stake in Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after purchasing an additional 2,620,310 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Intercontinental Exchange by 4.1% during the second quarter. Legal & General Group Plc now owns 3,510,634 shares of the financial services provider’s stock worth $644,096,000 after purchasing an additional 137,685 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on ICE. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. UBS Group reiterated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $195.40.

Insider Activity

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the completion of the sale, the chief executive officer owned 1,651,705 shares of the company’s stock, valued at approximately $256,014,275. This trade represents a 8.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 4,722 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $169.19, for a total transaction of $798,915.18. Following the completion of the transaction, the director directly owned 9,747 shares of the company’s stock, valued at approximately $1,649,094.93. This trade represents a 32.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 341,036 shares of company stock valued at $53,068,762 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 0.1%

NYSE:ICE opened at $153.93 on Tuesday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock’s 50 day simple moving average is $164.43 and its 200-day simple moving average is $163.97. The firm has a market cap of $87.42 billion, a P/E ratio of 26.68, a PEG ratio of 1.60 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.52 EPS. Equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 33.28%.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.