Oak Asset Management LLC Has $4.70 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Oak Asset Management LLC cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,248 shares of the financial services provider’s stock after selling 125 shares during the period. Intercontinental Exchange comprises about 1.7% of Oak Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Oak Asset Management LLC’s holdings in Intercontinental Exchange were worth $4,700,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Kestra Private Wealth Services LLC increased its holdings in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after buying an additional 4,787 shares during the period. Governors Lane LP boosted its position in shares of Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider’s stock valued at $18,939,000 after acquiring an additional 59,500 shares in the last quarter. National Pension Service increased its stake in Intercontinental Exchange by 19.1% in the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock valued at $184,644,000 after acquiring an additional 198,311 shares during the period. Hahn Capital Management LLC raised its position in Intercontinental Exchange by 69.8% in the fourth quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider’s stock worth $10,600,000 after purchasing an additional 29,233 shares in the last quarter. Finally, Tema Etfs LLC acquired a new position in Intercontinental Exchange in the fourth quarter worth about $1,107,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 0.0%

ICE opened at $179.29 on Thursday. 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 stock has a market capitalization of $102.85 billion, a PE ratio of 37.51, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 1-year low of $132.93 and a 1-year high of $180.89. The firm has a 50-day moving average price of $168.33 and a two-hundred day moving average price of $163.12.

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

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange’s payout ratio is 39.75%.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of recent research reports. Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Barclays boosted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley upped their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $188.46.

Insider Activity

In related news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction dated 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 directly owns 13,220 shares in the company, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the company’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,191 shares of company stock valued at $694,978. Company insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

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.