Sycale Advisors NY LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sycale Advisors NY LLC increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 33.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 182,443 shares of the financial services provider’s stock after purchasing an additional 45,669 shares during the period. Intercontinental Exchange accounts for 7.0% of Sycale Advisors NY LLC’s portfolio, making the stock its 5th largest holding. Sycale Advisors NY LLC’s holdings in Intercontinental Exchange were worth $27,186,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. Sierra Ocean LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $25,000. Redwood Park Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $33,000. Lee Danner & Bass Inc. purchased a new position in Intercontinental Exchange during the fourth quarter valued at $34,000. BankPlus Trust Department purchased a new position in Intercontinental Exchange during the fourth quarter valued at $40,000. Finally, Kapitalo Investimentos Ltda purchased a new position in Intercontinental Exchange during the fourth quarter valued at $44,000. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,368 shares of company stock valued at $7,077,789. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. UBS Group raised their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Barclays raised their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $185.93.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $176.10 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44. The stock has a market capitalization of $101.01 billion, a P/E ratio of 36.84, a PEG ratio of 2.10 and a beta of 1.12. The firm has a fifty day simple moving average of $167.31 and a two-hundred day simple moving average of $161.23. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Intercontinental Exchange 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.