UNIVEST FINANCIAL Corp Has $5.48 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

UNIVEST FINANCIAL Corp boosted its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,777 shares of the financial services provider’s stock after purchasing an additional 3,366 shares during the quarter. UNIVEST FINANCIAL Corp’s holdings in Intercontinental Exchange were worth $5,480,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ICE. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $420,000. Prestige Wealth Management Group LLC raised its holdings in Intercontinental Exchange by 6.4% in the fourth quarter. Prestige Wealth Management Group LLC now owns 1,414 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 85 shares during the period. M.D. Sass LLC boosted its position in shares of Intercontinental Exchange by 30.1% during the fourth quarter. M.D. Sass LLC now owns 403,415 shares of the financial services provider’s stock worth $60,113,000 after purchasing an additional 93,227 shares in the last quarter. Zions Bancorporation N.A. grew its holdings in shares of Intercontinental Exchange by 17.4% in the 4th quarter. Zions Bancorporation N.A. now owns 9,539 shares of the financial services provider’s stock valued at $1,421,000 after buying an additional 1,417 shares during the period. Finally, TIAA Trust National Association raised its stake in Intercontinental Exchange by 1.5% during the 4th quarter. TIAA Trust National Association now owns 11,689 shares of the financial services provider’s stock worth $1,742,000 after buying an additional 170 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 over the last three months. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.2 %

Shares of NYSE:ICE opened at $175.58 on Wednesday. The company has a market capitalization of $100.88 billion, a P/E ratio of 36.73, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50 day simple moving average is $165.53 and its 200 day simple moving average is $160.26. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $176.49.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

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.