SpiderRock Advisors LLC Buys 15,365 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

SpiderRock Advisors LLC boosted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 701.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 17,556 shares of the financial services provider’s stock after purchasing an additional 15,365 shares during the quarter. SpiderRock Advisors LLC’s holdings in Intercontinental Exchange were worth $2,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Wolff Wiese Magana LLC raised its holdings in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $26,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the last quarter. Fairscale Capital LLC bought a new position in shares of Intercontinental Exchange during the second quarter valued at $25,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at $29,000. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now 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 filing with the SEC, which is available at the SEC website. Also, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at $629,242.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ICE shares. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price for the company. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Piper Sandler upped their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Stock Up 0.2 %

Shares of ICE opened at $156.42 on Friday. The firm has a market capitalization of $89.81 billion, a P/E ratio of 37.07, a P/E/G ratio of 2.60 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $108.44 and a 12-month high of $167.99. The firm has a fifty day moving average price of $161.52 and a 200-day moving average price of $149.07. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

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

Intercontinental Exchange Dividend Announcement

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

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.