Visualize Group LP Invests $12.92 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Visualize Group LP bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 86,700 shares of the financial services provider’s stock, valued at approximately $12,919,000. Intercontinental Exchange accounts for 8.2% of Visualize Group LP’s holdings, making the stock its 6th biggest position.

Other hedge funds have also modified their holdings of the company. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $33,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $34,000. BankPlus Trust Department purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $40,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $44,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $170.75 on Friday. The firm has a market cap of $98.10 billion, a PE ratio of 35.72, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $166.43 and a 200-day simple moving average of $160.59. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company posted $1.48 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.12%. Intercontinental Exchange’s payout ratio is currently 40.17%.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares in the company, valued at $3,396,876. This represents a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lynn C. Martin sold 4,155 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $165.60, for a total value of $688,068.00. Following the completion of the sale, the insider now owns 57,376 shares of the company’s stock, valued at $9,501,465.60. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,931 shares of company stock worth $10,492,868 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays boosted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Three investment 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, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Company 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.