First Business Financial Services Inc. Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

First Business Financial Services Inc. boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,620 shares of the financial services provider’s stock after purchasing an additional 457 shares during the quarter. First Business Financial Services Inc.’s holdings in Intercontinental Exchange were worth $2,328,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $25,000. Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $29,000. FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $31,000. BankPlus Trust Department bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $40,000. Finally, Planning Capital Management Corp increased its holdings in shares of Intercontinental Exchange by 96.7% in the 3rd quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock worth $48,000 after buying an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at $6,977,088.16. The trade was a 2.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,268 shares of company stock valued at $11,262,789. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $171.77 on Thursday. The company has a 50 day moving average price of $158.68 and a 200-day moving average price of $159.12. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41. The stock has a market capitalization of $98.69 billion, a PE ratio of 35.94, a PEG ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.12%. Intercontinental Exchange’s payout ratio is presently 40.17%.

Analyst Ratings Changes

ICE has been the topic of a number of research reports. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Barclays boosted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

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.