Planning Capital Management Corp Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Planning Capital Management Corp lifted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 96.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 299 shares of the financial services provider’s stock after acquiring an additional 147 shares during the quarter. Planning Capital Management Corp’s holdings in Intercontinental Exchange were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ICE. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth $25,000. International Assets Investment Management LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $25,000. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange during the second quarter valued at $25,000. Wolff Wiese Magana LLC lifted its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ICE. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. Finally, Bank of America lifted their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $156.48 on Friday. The company’s 50 day simple moving average is $161.20 and its 200 day simple moving average is $149.70. The stock has a market capitalization of $89.85 billion, a price-to-earnings ratio of 37.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $110.11 and a 1 year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company earned $1.46 EPS. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.07 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s payout ratio is 42.65%.

Insider Activity

In other news, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now directly owns 44,865 shares of the company’s stock, valued at $7,159,108.05. The trade was a 4.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

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.