United Bank raised its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 22,305 shares of the financial services provider’s stock after purchasing an additional 1,582 shares during the quarter. United Bank’s holdings in Intercontinental Exchange were worth $1,574,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Advisory Services Network LLC raised its position in shares of Intercontinental Exchange by 0.5% in the 2nd quarter. Advisory Services Network LLC now owns 15,419 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 76 shares in the last quarter. Gofen & Glossberg LLC IL raised its position in shares of Intercontinental Exchange by 0.4% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 96,030 shares of the financial services provider’s stock worth $6,330,000 after acquiring an additional 426 shares in the last quarter. Bank of Nova Scotia raised its position in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Bank of Nova Scotia now owns 30,186 shares of the financial services provider’s stock worth $1,990,000 after acquiring an additional 710 shares in the last quarter. MAI Capital Management raised its position in shares of Intercontinental Exchange by 1.8% in the 4th quarter. MAI Capital Management now owns 44,903 shares of the financial services provider’s stock worth $3,168,000 after acquiring an additional 783 shares in the last quarter. Finally, Commerce Bank raised its position in shares of Intercontinental Exchange by 3.1% in the 3rd quarter. Commerce Bank now owns 27,381 shares of the financial services provider’s stock worth $1,881,000 after acquiring an additional 829 shares in the last quarter. 90.14% of the stock is owned by institutional investors and hedge funds.

In related news, insider Dean S. Mathison sold 1,042 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total value of $78,973.18. Following the completion of the sale, the insider now directly owns 12,485 shares of the company’s stock, valued at approximately $946,238.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Charles A. Vice sold 7,500 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $71.93, for a total value of $539,475.00. Following the completion of the sale, the insider now directly owns 377,471 shares of the company’s stock, valued at $27,151,489.03. The disclosure for this sale can be found here. Insiders sold a total of 48,910 shares of company stock valued at $3,579,672 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on ICE. Argus reissued a “buy” rating and issued a $67.00 price objective (down from $80.00) on shares of Intercontinental Exchange in a research report on Friday. Bank of America lowered their price objective on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research report on Thursday. Berenberg Bank began coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price objective for the company. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research report on Wednesday, January 3rd. Finally, Citigroup lifted their price objective on Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Intercontinental Exchange has a consensus rating of “Buy” and a consensus price target of $76.08.

Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $68.45 on Friday. Intercontinental Exchange Inc has a 12-month low of $56.97 and a 12-month high of $76.14. The company has a market capitalization of $39,858.02, a PE ratio of 23.28, a P/E/G ratio of 2.36 and a beta of 0.66. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.71 EPS. The firm’s revenue was up .5% compared to the same quarter last year. equities analysts anticipate that Intercontinental Exchange Inc will post 3.55 earnings per share for the current fiscal year.

Intercontinental Exchange announced that its Board of Directors has approved a share repurchase plan on Thursday, November 2nd that permits the company to repurchase $1.20 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is 18.87%.

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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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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