Demars Financial Group LLC Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Demars Financial Group LLC raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 70.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 515,877 shares of the financial services provider’s stock after purchasing an additional 213,746 shares during the period. Demars Financial Group LLC owned 0.09% of Intercontinental Exchange worth $88,989,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock worth $514,000 after acquiring an additional 1,169 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 2.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 6,821 shares of the financial services provider’s stock worth $1,016,000 after purchasing an additional 137 shares during the period. Sierra Ocean LLC acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $25,000. Strategic Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 5.1% during the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 66 shares during the period. Finally, Catalyst Capital Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 40.8% during the fourth quarter. Catalyst Capital Advisors LLC now owns 1,685 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 488 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president now owns 27,313 shares in the company, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel now owns 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,954 shares of company stock worth $40,796,663 in the last quarter. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $179.67 on Tuesday. Intercontinental Exchange, Inc. has a 52 week low of $133.97 and a 52 week high of $181.63. The business’s fifty day simple moving average is $170.89 and its 200-day simple moving average is $164.21. The firm has a market cap of $103.06 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. 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 posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. 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 company earned $1.48 EPS. Intercontinental Exchange’s revenue was up 8.0% on a year-over-year basis. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Bank of America decreased their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays boosted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Morgan Stanley boosted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $188.46.

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.