Tandem Investment Advisors Inc. Has $136.02 Million Stake in Intercontinental Exchange Inc. (NYSE:ICE)

Tandem Investment Advisors Inc. cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 788,497 shares of the financial services provider’s stock after selling 27,191 shares during the period. Intercontinental Exchange makes up 4.7% of Tandem Investment Advisors Inc.’s portfolio, making the stock its 3rd largest position. Tandem Investment Advisors Inc.’s holdings in Intercontinental Exchange were worth $136,016,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ICE. Norges Bank bought a new stake in Intercontinental Exchange in the fourth quarter worth $1,196,258,000. Royal Bank of Canada raised its stake in shares of Intercontinental Exchange by 132.9% during the fourth 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 acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock valued at $677,465,000 after acquiring an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $406,728,000. Finally, GAMMA Investing LLC raised its stake in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after acquiring an additional 2,255,507 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares in the company, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,749 shares of company stock valued at $40,942,387. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $181.56 on Thursday. The stock has a market cap of $104.15 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a fifty-two week low of $139.61 and a fifty-two week high of $183.76. The firm’s 50-day simple moving average is $176.36 and its two-hundred day simple moving average is $166.10.

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 analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 earnings per share. Analysts anticipate 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Analyst Ratings Changes

ICE has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their price objective 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. Barclays upped their price objective 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. Bank of America lowered their price objective 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. Finally, Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.