Ulland Investment Advisors LLC Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Ulland Investment Advisors LLC grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,921 shares of the financial services provider’s stock after purchasing an additional 395 shares during the quarter. Intercontinental Exchange comprises approximately 1.0% of Ulland Investment Advisors LLC’s portfolio, making the stock its 24th largest holding. Ulland Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $1,194,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC raised its position in shares of Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock valued at $1,765,317,000 after buying an additional 327,637 shares during the period. Royal Bank of Canada raised its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the period. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $1,196,258,000. Finally, Northern Trust Corp increased its holdings in Intercontinental Exchange by 9.7% in the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE opened at $177.43 on Thursday. The firm has a market cap of $101.78 billion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a fifty-two week low of $133.97 and a fifty-two week high of $180.89. The company’s 50-day moving average price is $169.28 and its 200 day moving average price is $163.78. 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 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. 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 for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. Intercontinental Exchange’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.08%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 552 shares of the company’s 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 completion of the sale, the insider now owns 15,658 shares in the company, valued at approximately $2,732,634.16. This represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel now owns 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,354 shares of company stock worth $40,512,695 over the last three months. Corporate insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Barclays boosted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. 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 report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $188.46.

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.