Intercontinental Exchange, Inc. (NYSE:ICE) Stake Raised by Bancreek Capital Management LP

Bancreek Capital Management LP raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.3% during the third quarter, Holdings Channel.com reports. The firm owned 59,667 shares of the financial services provider’s stock after purchasing an additional 5,563 shares during the period. Intercontinental Exchange makes up 6.0% of Bancreek Capital Management LP’s holdings, making the stock its 5th biggest holding. Bancreek Capital Management LP’s holdings in Intercontinental Exchange were worth $9,585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 7.5% in the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. CCLA Investment Management raised its holdings in shares of Intercontinental Exchange by 91,838.2% in the 1st quarter. CCLA Investment Management now owns 1,114,291 shares of the financial services provider’s stock valued at $152,923,000 after buying an additional 1,113,079 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $124,508,000. Janus Henderson Group PLC raised its holdings in shares of Intercontinental Exchange by 589.4% in the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock valued at $110,559,000 after buying an additional 687,817 shares during the period. Finally, James Hambro & Partners purchased a new stake in shares of Intercontinental Exchange in the 2nd quarter valued at $93,340,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $156.08 on Wednesday. The company has a market cap of $89.62 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The stock has a 50 day simple moving average of $161.43 and a 200-day simple moving average of $149.49. Intercontinental Exchange, Inc. has a 12-month low of $108.62 and a 12-month high of $167.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $1.46 EPS. Intercontinental Exchange’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s payout ratio is currently 42.65%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Bank of America upped their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley upped their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.13.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total value of $80,920.82. Following the transaction, the director now owns 3,958 shares in the company, valued at approximately $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Martha A. Tirinnanzi sold 509 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares of the company’s stock, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $98,011.62. Following the completion of the sale, the insider now directly owns 14,034 shares of the company’s stock, valued at approximately $2,284,875.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by insiders.

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.