Angeles Investment Advisors LLC Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Angeles Investment Advisors LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,519 shares of the financial services provider’s stock, valued at approximately $405,000.

Other institutional investors also recently bought and sold shares of the company. Pinnacle Financial Partners Inc increased its stake in Intercontinental Exchange by 0.4% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 80,945 shares of the financial services provider’s stock worth $13,003,000 after purchasing an additional 351 shares during the period. MQS Management LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $733,000. Simmons Bank increased its stake in shares of Intercontinental Exchange by 2.3% in the third quarter. Simmons Bank now owns 29,694 shares of the financial services provider’s stock worth $4,770,000 after buying an additional 668 shares during the period. Haverford Trust Co raised its holdings in Intercontinental Exchange by 6.5% during the 3rd quarter. Haverford Trust Co now owns 3,845 shares of the financial services provider’s stock valued at $618,000 after buying an additional 235 shares during the last quarter. Finally, Bancreek Capital Management LP boosted its position in Intercontinental Exchange by 10.3% during the 3rd quarter. Bancreek Capital Management LP now owns 59,667 shares of the financial services provider’s stock valued at $9,585,000 after buying an additional 5,563 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ICE. Barclays lowered their price objective on shares of Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Piper Sandler lifted their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. TD Cowen initiated coverage on Intercontinental Exchange in a report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.13.

Insiders Place Their Bets

In other news, Director Martha A. Tirinnanzi sold 509 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now owns 3,958 shares in the company, valued at $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the transaction, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total transaction of $80,920.82. Following the sale, the director now directly owns 3,958 shares in the company, valued at approximately $629,242.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

Shares of ICE traded up $0.26 during mid-day trading on Wednesday, reaching $156.32. The company had a trading volume of 96,413 shares, compared to its average volume of 2,560,012. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $89.76 billion, a price-to-earnings ratio of 36.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The firm has a 50-day moving average price of $161.33 and a 200 day moving average price of $149.66. Intercontinental Exchange, Inc. has a 52 week low of $108.94 and a 52 week high of $167.99.

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

Intercontinental Exchange Announces Dividend

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

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.