Charles Schwab Investment Management Inc. Raises Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Charles Schwab Investment Management Inc. lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,009,313 shares of the financial services provider’s stock after purchasing an additional 78,138 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.54% of Intercontinental Exchange worth $386,486,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in Intercontinental Exchange by 4.3% during the third quarter. Commonwealth Equity Services LLC now owns 41,212 shares of the financial services provider’s stock worth $4,534,000 after purchasing an additional 1,716 shares during the period. Lindbrook Capital LLC grew its stake in shares of Intercontinental Exchange by 11.4% in the third quarter. Lindbrook Capital LLC now owns 1,459 shares of the financial services provider’s stock valued at $161,000 after buying an additional 149 shares in the last quarter. Strs Ohio raised its holdings in shares of Intercontinental Exchange by 6.6% during the 3rd quarter. Strs Ohio now owns 254,855 shares of the financial services provider’s stock valued at $28,039,000 after buying an additional 15,877 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Intercontinental Exchange by 3.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 134,409 shares of the financial services provider’s stock worth $14,788,000 after acquiring an additional 4,405 shares in the last quarter. Finally, Chicago Partners Investment Group LLC boosted its holdings in Intercontinental Exchange by 17.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 2,421 shares of the financial services provider’s stock worth $261,000 after acquiring an additional 356 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.6 %

Shares of ICE traded down $0.85 during mid-day trading on Wednesday, reaching $132.87. The company’s stock had a trading volume of 503,965 shares, compared to its average volume of 2,396,461. The company has a market cap of $76.21 billion, a price-to-earnings ratio of 30.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $134.78 and a 200 day moving average of $126.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue was up 20.8% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. Intercontinental Exchange’s dividend payout ratio is 41.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ICE shares. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Bank of America reduced their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Citigroup increased their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Insider Buying and Selling

In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 341 shares of the business’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now owns 48,713 shares of the company’s stock, valued at approximately $6,417,450.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The disclosure for this purchase can be found here. In the last three months, insiders sold 157,832 shares of company stock valued at $21,499,127. Company insiders own 1.10% of the company’s stock.

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.