Simmons Bank Buys 668 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Simmons Bank boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,694 shares of the financial services provider’s stock after purchasing an additional 668 shares during the quarter. Simmons Bank’s holdings in Intercontinental Exchange were worth $4,770,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. New Millennium Group LLC bought a new stake in shares of Intercontinental Exchange during the 2nd quarter worth $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $25,000. Fairscale Capital LLC bought a new stake in Intercontinental Exchange during the second quarter valued at about $25,000. Wolff Wiese Magana LLC grew its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth about $26,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the completion of the sale, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Martha A. Tirinnanzi sold 509 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $158.98, for a total transaction of $80,920.82. Following the transaction, the director now owns 3,958 shares of the company’s stock, valued at $629,242.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent analyst reports. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday. TD Cowen started coverage on shares of Intercontinental Exchange in a research note on Thursday, September 26th. They issued a “buy” rating and a $182.00 price objective on the stock. Bank of America upped their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays decreased their price objective on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.13.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $156.08 on Wednesday. The stock has a market capitalization of $89.62 billion, a P/E ratio of 36.98, a price-to-earnings-growth ratio of 2.62 and a beta of 1.08. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 1 year low of $108.62 and a 1 year high of $167.99. The firm has a 50 day moving average of $161.33 and a 200-day moving average of $149.66.

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

Intercontinental Exchange Announces Dividend

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