Valmark Advisers Inc. Buys New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Valmark Advisers Inc. bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,654 shares of the financial services provider’s stock, valued at approximately $341,000.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after purchasing an additional 1,012,034 shares during the period. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 219.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares during the period. Northern Trust Corp increased its position in shares of Intercontinental Exchange by 3.9% during the 3rd quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock valued at $832,623,000 after purchasing an additional 282,963 shares during the period. Invesco Ltd. increased its position in shares of Intercontinental Exchange by 21.1% during the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after purchasing an additional 1,058,536 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Intercontinental Exchange by 3.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock valued at $533,292,000 after purchasing an additional 173,236 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares in the company, valued at $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the transaction, the insider now owns 7,476,345 shares in the company, valued at $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the sale, the chief executive officer now directly owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,491 shares of company stock valued at $21,454,204. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $131.70 on Monday. The stock has a market cap of $75.41 billion, a PE ratio of 31.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The business has a fifty day simple moving average of $135.86 and a 200-day simple moving average of $125.38. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion during 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%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a yield of 1.37%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Piper Sandler lifted their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Citigroup lifted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Raymond James lifted their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.08.

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.