Summit Financial LLC Has $868,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Summit Financial LLC grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 14.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,828 shares of the financial services provider’s stock after purchasing an additional 747 shares during the quarter. Summit Financial LLC’s holdings in Intercontinental Exchange were worth $868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after acquiring an additional 538,670 shares during the last quarter. State Street Corp grew its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its holdings in Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after purchasing an additional 169,922 shares during the period. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter worth $1,196,258,000. Finally, Franklin Resources Inc. lifted its holdings in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after buying an additional 390,332 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $170.43 on Thursday. The company has a market cap of $97.92 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.10 and a beta of 1.08. The company’s fifty day moving average price is $168.31 and its two-hundred day moving average price is $160.78. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $177.45. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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 net margin of 23.42% and a return on equity of 12.95%. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,563 shares of company stock worth $10,998,990. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Barclays increased their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

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.