Magnus Financial Group LLC Invests $228,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Magnus Financial Group LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,320 shares of the financial services provider’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also modified their holdings of ICE. Kestra Private Wealth Services LLC lifted its position in shares of Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after buying an additional 4,787 shares during the last quarter. Governors Lane LP raised its stake in shares of Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after acquiring an additional 59,500 shares in the last quarter. National Pension Service raised its stake in shares of Intercontinental Exchange by 19.1% in the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock valued at $184,644,000 after acquiring an additional 198,311 shares in the last quarter. Hahn Capital Management LLC lifted its holdings in Intercontinental Exchange by 69.8% in the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock worth $10,600,000 after purchasing an additional 29,233 shares during the last quarter. Finally, Tema Etfs LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $1,107,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.1%

NYSE ICE opened at $178.70 on Friday. Intercontinental Exchange, Inc. has a twelve month low of $132.93 and a twelve month high of $180.89. The stock has a market cap of $102.51 billion, a PE ratio of 37.38, a PEG ratio of 2.10 and a beta of 1.12. The firm has a 50-day simple moving average of $168.60 and a 200 day simple moving average of $163.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced 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 company had revenue of $2.47 billion for 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%. Intercontinental Exchange’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Insiders Place Their Bets

In other Intercontinental Exchange news, Director Martha A. Tirinnanzi sold 397 shares of the firm’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the transaction, the director now owns 4,526 shares in the company, valued at $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 552 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the sale, the insider now directly owns 15,658 shares in the company, valued at $2,732,634.16. The trade was a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,354 shares of company stock worth $40,512,695 over the last 90 days. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ICE shares. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America lowered their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Barclays raised their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

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.