Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Shelton Capital Management

Shelton Capital Management increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 48,498 shares of the financial services provider’s stock after acquiring an additional 5,300 shares during the quarter. Shelton Capital Management’s holdings in Intercontinental Exchange were worth $5,484,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Old North State Trust LLC increased its holdings in Intercontinental Exchange by 227.3% in the first quarter. Old North State Trust LLC now owns 1,270 shares of the financial services provider’s stock valued at $40,000 after buying an additional 882 shares during the last quarter. MBM Wealth Consultants LLC grew its holdings in shares of Intercontinental Exchange by 20.5% during the second quarter. MBM Wealth Consultants LLC now owns 7,418 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 1,263 shares during the last quarter. Vancity Investment Management Ltd grew its holdings in shares of Intercontinental Exchange by 0.8% during the first quarter. Vancity Investment Management Ltd now owns 94,369 shares of the financial services provider’s stock valued at $9,842,000 after purchasing an additional 736 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Intercontinental Exchange by 6.6% during the second quarter. Ballentine Partners LLC now owns 3,806 shares of the financial services provider’s stock valued at $430,000 after purchasing an additional 235 shares during the last quarter. Finally, Great Lakes Retirement Inc. bought a new position in shares of Intercontinental Exchange during the first quarter valued at approximately $308,000. Institutional investors and hedge funds own 87.91% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $108.72, for a total value of $543,600.00. Following the completion of the sale, the president now directly owns 125,184 shares in the company, valued at $13,610,004.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Douglas Foley sold 1,600 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $113.99, for a total transaction of $182,384.00. Following the completion of the sale, the senior vice president now owns 18,402 shares in the company, valued at approximately $2,097,643.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 5,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $108.72, for a total value of $543,600.00. Following the sale, the president now owns 125,184 shares of the company’s stock, valued at approximately $13,610,004.48. The disclosure for this sale can be found here. Insiders sold 100,202 shares of company stock worth $11,299,952 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. Jefferies Financial Group upped their target price on Intercontinental Exchange from $129.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, September 19th. The Goldman Sachs Group initiated coverage on Intercontinental Exchange in a report on Friday, September 22nd. They set a “neutral” rating and a $125.00 target price for the company. Citigroup raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and upped their target price for the company from $117.00 to $130.00 in a report on Friday, August 4th. Bank of America lowered their target price on Intercontinental Exchange from $141.00 to $140.00 in a report on Tuesday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $134.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.42.

Intercontinental Exchange Stock Performance

ICE opened at $111.40 on Friday. The company has a market capitalization of $63.76 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.69 and a beta of 0.98. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1-year low of $94.16 and a 1-year high of $118.79. The business has a 50 day moving average price of $110.31 and a two-hundred day moving average price of $111.49.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 14th will be given a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $1.68 dividend on an annualized basis and a yield of 1.51%. Intercontinental Exchange’s dividend payout ratio (DPR) is 38.98%.

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.