Keystone Financial Group Inc. Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Keystone Financial Group Inc. bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 725 shares of the financial services provider’s stock, valued at approximately $108,000.

A number of other institutional investors have also recently modified their holdings of ICE. AMF Tjanstepension AB grew its position in shares of Intercontinental Exchange by 14.5% during the 3rd quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock valued at $20,441,000 after acquiring an additional 16,130 shares during the period. Mather Group LLC. lifted its stake in Intercontinental Exchange by 6.6% in the 3rd quarter. Mather Group LLC. now owns 2,352 shares of the financial services provider’s stock worth $378,000 after purchasing an additional 146 shares in the last quarter. Axiom Advisory LLC lifted its stake in Intercontinental Exchange by 3.2% in the 3rd quarter. Axiom Advisory LLC now owns 2,880 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 90 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Intercontinental Exchange by 4.0% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,704 shares of the financial services provider’s stock worth $756,000 after purchasing an additional 179 shares in the last quarter. Finally, Atomi Financial Group Inc. raised its position in shares of Intercontinental Exchange by 17.5% during the 3rd quarter. Atomi Financial Group Inc. now owns 4,253 shares of the financial services provider’s stock valued at $683,000 after buying an additional 634 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on ICE shares. 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 research report on Monday, November 11th. Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday, October 14th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Keefe, Bruyette & Woods reduced their price target on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $167.37 on Friday. The company has a fifty day simple moving average of $153.11 and a two-hundred day simple moving average of $156.74. The company has a market cap of $96.10 billion, a price-to-earnings ratio of 39.66, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11. 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, Inc. has a 52 week low of $124.34 and a 52 week high of $169.75.

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 the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.15%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.45. Intercontinental Exchange’s dividend payout ratio is 42.65%.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares in the company, 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 have sold 13,795 shares of company stock valued at $2,120,572 over the last quarter. 1.10% of the stock is owned by insiders.

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.