Pinnacle Financial Partners Inc Raises Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Pinnacle Financial Partners Inc lifted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,945 shares of the financial services provider’s stock after purchasing an additional 351 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Intercontinental Exchange were worth $13,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Intercontinental Exchange by 23.0% during the 1st quarter. Empowered Funds LLC now owns 8,709 shares of the financial services provider’s stock valued at $1,197,000 after buying an additional 1,631 shares during the period. Atomi Financial Group Inc. boosted its position in Intercontinental Exchange by 36.6% in the first quarter. Atomi Financial Group Inc. now owns 2,272 shares of the financial services provider’s stock worth $312,000 after purchasing an additional 609 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Intercontinental Exchange by 5.9% during the 1st quarter. QRG Capital Management Inc. now owns 15,502 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 867 shares during the period. Entropy Technologies LP purchased a new stake in shares of Intercontinental Exchange during the 1st quarter valued at about $1,324,000. Finally, TD Asset Management Inc lifted its stake in shares of Intercontinental Exchange by 4.2% in the 1st quarter. TD Asset Management Inc now owns 687,891 shares of the financial services provider’s stock worth $94,537,000 after purchasing an additional 27,461 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $156.08 on Wednesday. The stock has a market cap of $89.62 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a 50 day moving average price of $161.33 and a 200-day moving average price of $149.66. Intercontinental Exchange, Inc. has a one year low of $108.62 and a one year high of $167.99.

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

Intercontinental Exchange Announces Dividend

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

Insiders Place Their Bets

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $98,011.62. Following the transaction, the insider now directly owns 14,034 shares in the company, valued at $2,284,875.54. 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, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the completion of the transaction, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ICE. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Friday, November 1st. Finally, The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.13.

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.