Intercontinental Exchange, Inc. (NYSE:ICE) Holdings Lifted by Bancreek Capital Management LP

Bancreek Capital Management LP increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,667 shares of the financial services provider’s stock after purchasing an additional 5,563 shares during the period. Intercontinental Exchange accounts for 6.0% of Bancreek Capital Management LP’s holdings, making the stock its 5th biggest holding. Bancreek Capital Management LP’s holdings in Intercontinental Exchange were worth $9,585,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Quintet Private Bank Europe S.A. lifted its holdings in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 62 shares in the last quarter. Raleigh Capital Management Inc. lifted its holdings in Intercontinental Exchange by 26.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 63 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares in the last quarter. American National Bank increased its stake in Intercontinental Exchange by 13.8% in the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its stake in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research reports. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods restated an “outperform” rating and set a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Barclays decreased their price target on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $156.08 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $89.62 billion, a PE ratio of 36.98, a P/E/G ratio of 2.62 and a beta of 1.08. The business has a 50-day simple moving average of $161.43 and a two-hundred day simple moving average of $149.49. Intercontinental Exchange, Inc. has a fifty-two week low of $108.62 and a fifty-two week high of $167.99.

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

Intercontinental Exchange Announces Dividend

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

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now directly owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by corporate insiders.

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.