We Are One Seven LLC bought a new stake in Intercontinental Exchange Inc (NYSE:ICE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,928 shares of the financial services provider’s stock, valued at approximately $207,000.
A number of other large investors also recently added to or reduced their stakes in the business. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $109,000. Valeo Financial Advisors LLC raised its position in shares of Intercontinental Exchange by 257.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 1,172 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $122,000. Cerebellum GP LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $127,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth about $145,000. 90.73% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Exchange stock opened at $70.32 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $40,946.91, a PE ratio of 23.92, a P/E/G ratio of 2.46 and a beta of 0.65. Intercontinental Exchange Inc has a fifty-two week low of $57.91 and a fifty-two week high of $76.30.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be issued a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange’s payout ratio is presently 22.64%.
ICE has been the topic of a number of research analyst reports. Argus raised their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target on the stock in a research report on Wednesday, January 3rd. Berenberg Bank initiated coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They set a “buy” rating and a $90.00 price target on the stock. Bank of America dropped their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $76.00 to $83.00 in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $76.62.
In related news, insider Thomas W. Farley sold 18,046 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $73.97, for a total transaction of $1,334,862.62. Following the completion of the transaction, the insider now directly owns 86,293 shares in the company, valued at $6,383,093.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $72.55, for a total value of $544,125.00. Following the transaction, the insider now owns 377,471 shares of the company’s stock, valued at $27,385,521.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,144 shares of company stock valued at $14,502,143. 1.50% of the stock is owned by corporate insiders.
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About Intercontinental Exchange
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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