Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,839 shares of the financial services provider’s stock, valued at approximately $236,000.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Intercontinental Exchange by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after acquiring an additional 1,012,034 shares during the period. Morgan Stanley boosted its holdings in Intercontinental Exchange by 18.9% during the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after acquiring an additional 4,044,744 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Intercontinental Exchange by 45.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after acquiring an additional 5,354,161 shares during the period. Wellington Management Group LLP boosted its holdings in Intercontinental Exchange by 219.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after acquiring an additional 8,348,126 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 1.2% during the 1st quarter. Geode Capital Management LLC now owns 10,503,361 shares of the financial services provider’s stock valued at $1,092,660,000 after acquiring an additional 127,481 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.5 %

ICE opened at $129.89 on Wednesday. The firm has a market cap of $74.37 billion, a price-to-earnings ratio of 30.93, a PEG ratio of 2.07 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The stock has a fifty day moving average price of $136.37 and a 200-day moving average price of $124.17.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the previous year, the company posted $1.25 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.39%. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ICE. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Rosenblatt Securities lifted their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Finally, UBS Group lifted their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $147.08.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of Intercontinental Exchange stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The shares were purchased at an average price of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold 157,491 shares of company stock valued at $21,454,204 in the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.