Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Timber Creek Capital Management LLC

Timber Creek Capital Management LLC raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,239 shares of the financial services provider’s stock after purchasing an additional 953 shares during the period. Intercontinental Exchange accounts for approximately 1.5% of Timber Creek Capital Management LLC’s investment portfolio, making the stock its 25th biggest holding. Timber Creek Capital Management LLC’s holdings in Intercontinental Exchange were worth $4,961,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Scarborough Advisors LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth about $25,000. Annapolis Financial Services LLC boosted its stake in Intercontinental Exchange by 1,018.8% in the 1st quarter. Annapolis Financial Services LLC now owns 179 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in Intercontinental Exchange during the 1st quarter worth approximately $26,000. Stuart Chaussee & Associates Inc. acquired a new position in Intercontinental Exchange during the 4th quarter valued at approximately $28,000. Finally, Venturi Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 82.3% in the first quarter. Venturi Wealth Management LLC now owns 206 shares of the financial services provider’s stock worth $28,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded up $1.04 on Friday, hitting $156.54. The company’s stock had a trading volume of 2,004,523 shares, compared to its average volume of 2,480,153. The company has a market capitalization of $89.79 billion, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a 1 year low of $104.49 and a 1 year high of $157.18. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 0.99. The firm has a fifty day moving average price of $144.97 and a 200-day moving average price of $138.24.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a return on equity of 12.70% and a net margin of 21.43%. The company had revenue of $2.32 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $1.43 EPS. Intercontinental Exchange’s revenue was up 22.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.15%. The ex-dividend date is Monday, September 16th. Intercontinental Exchange’s payout ratio is currently 41.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ICE shares. Barclays boosted their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Bank of America reduced their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research note on Friday, April 19th. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Tuesday. Rosenblatt Securities reissued a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $152.00 to $154.00 and gave the company a “hold” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.93.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at approximately $9,098,792.23. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,267 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total transaction of $305,070.19. Following the completion of the transaction, the director now owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 395 shares of Intercontinental Exchange stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $141.13, for a total transaction of $55,746.35. Following the sale, the chief technology officer now owns 64,471 shares of the company’s stock, valued at $9,098,792.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 64,992 shares of company stock valued at $9,197,801. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Company 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.