BFI Infinity Ltd. Acquires New Position in Intercontinental Exchange, Inc. (NYSE:ICE)

BFI Infinity Ltd. bought a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,333 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other large investors have also added to or reduced their stakes in the company. Governors Lane LP boosted its stake in shares of Intercontinental Exchange by 88.0% in the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock worth $18,939,000 after acquiring an additional 59,500 shares during the period. National Pension Service boosted its stake in Intercontinental Exchange by 19.1% in the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock worth $184,644,000 after purchasing an additional 198,311 shares during the period. Hahn Capital Management LLC grew its holdings in Intercontinental Exchange by 69.8% during the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock valued at $10,600,000 after buying an additional 29,233 shares in the last quarter. Tema Etfs LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $1,107,000. Finally, Otter Creek Advisors LLC raised its position in shares of Intercontinental Exchange by 102.2% during the fourth quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider’s stock valued at $4,952,000 after buying an additional 16,797 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $175.99 on Tuesday. Intercontinental Exchange, Inc. has a 12-month low of $132.93 and a 12-month high of $180.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a 50-day moving average price of $168.71 and a 200-day moving average price of $163.61. The firm has a market capitalization of $100.95 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 earnings per share. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares of the company’s stock, valued at $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the sale, the chief accounting officer now owns 13,220 shares of the company’s stock, valued at $2,379,600. This represents a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,354 shares of company stock valued at $40,512,695 in the last quarter. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ICE. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley raised their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Barclays boosted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Finally, Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

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.