Cambridge Investment Research Advisors Inc. Has $5.65 Million Position in Intercontinental Exchange Inc. (NYSE:ICE)

Cambridge Investment Research Advisors Inc. raised its position in Intercontinental Exchange Inc. (NYSE:ICE) by 32.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,751 shares of the financial services provider’s stock after buying an additional 8,077 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Intercontinental Exchange were worth $5,650,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of ICE. REAP Financial Group LLC raised its position in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $29,000. Rakuten Securities Inc. lifted its holdings in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 143 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange during the first quarter worth $31,000. Finally, Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth $33,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of recent research reports. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Morgan Stanley lifted their price target 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. 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 note on Friday, May 2nd. Finally, Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $188.46.

Intercontinental Exchange Price Performance

Shares of ICE opened at $181.74 on Friday. The firm has a market capitalization of $104.25 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange Inc. has a 1-year low of $136.21 and a 1-year high of $182.61. The company’s fifty day moving average price is $174.95 and its 200-day moving average price is $165.57.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results 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 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of the firm’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer now directly owns 13,220 shares in the company, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,954 shares of company stock worth $40,796,663. Insiders own 1.00% of the company’s stock.

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.