Cullen Frost Bankers Inc. Acquires 16,991 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Cullen Frost Bankers Inc. lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 18.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,903 shares of the financial services provider’s stock after purchasing an additional 16,991 shares during the period. Cullen Frost Bankers Inc.’s holdings in Intercontinental Exchange were worth $14,243,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ICE. Fortitude Family Office LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $28,000. Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in shares of Intercontinental Exchange in the third quarter valued at $25,000. Finally, BKM Wealth Management LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. Barclays lowered their price target on shares of Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. UBS Group upped their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Keefe, Bruyette & Woods lowered their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Insider Buying and Selling at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Over the last three months, insiders sold 157,832 shares of company stock worth $21,499,127. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.33 during trading hours on Wednesday, hitting $133.39. The company’s stock had a trading volume of 1,397,428 shares, compared to its average volume of 2,406,588. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $76.51 billion, a P/E ratio of 30.59, a PEG ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The stock has a fifty day simple moving average of $134.78 and a 200-day simple moving average of $126.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the firm posted $1.41 EPS. The firm’s revenue was up 20.8% on a year-over-year basis. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.35%. Intercontinental Exchange’s dividend payout ratio is currently 41.28%.

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.