Cable Hill Partners LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Cable Hill Partners LLC purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,268 shares of the financial services provider’s stock, valued at approximately $204,000.

Several other large investors also recently bought and sold shares of the stock. Quintet Private Bank Europe S.A. boosted its position in shares of Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 62 shares in the last quarter. Raleigh Capital Management Inc. boosted its position in shares of Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 63 shares in the last quarter. Integrated Advisors Network LLC boosted its position in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares in the last quarter. American National Bank boosted its position in shares of Intercontinental Exchange by 13.8% during the 2nd quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in shares of Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 602 shares of the stock in a transaction on 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 in the company, valued at approximately $2,284,875.54. This represents a 4.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares in the company, valued at $2,666,400. This trade represents a 6.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.4 %

ICE opened at $156.48 on Friday. The company has a market cap of $89.85 billion, a PE ratio of 37.08, a P/E/G ratio of 2.57 and a beta of 1.08. The business has a 50 day moving average price of $161.20 and a two-hundred day moving average price of $149.70. Intercontinental Exchange, Inc. has a 52 week low of $110.11 and a 52 week high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.46 EPS. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.07 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently issued reports on ICE. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Friday, November 1st. The Goldman Sachs Group upped their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Piper Sandler upped their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $174.13.

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.