Bay Colony Advisory Group Inc d b a Bay Colony Advisors Buys Shares of 1,839 Intercontinental Exchange, Inc. (NYSE:ICE)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,839 shares of the financial services provider’s stock, valued at approximately $236,000.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $25,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $26,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $31,000. Finally, First Capital Advisors Group LLC. bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $129.89 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50 day simple moving average is $136.37 and its two-hundred day simple moving average is $124.17. The stock has a market capitalization of $74.37 billion, a P/E ratio of 30.93, a price-to-earnings-growth ratio of 2.07 and a beta of 1.02. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.45 dividend. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is 42.86%.

Insider Activity

In other news, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Warren Gardiner sold 500 shares of the company’s 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 sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 27,970 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now directly owns 138,487 shares in the company, valued at $18,659,738.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ICE. Citigroup lifted their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley lifted their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Barclays lifted their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. lifted their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Three analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.08.

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.