Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Empirical Finance LLC

Empirical Finance LLC grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,174 shares of the financial services provider’s stock after purchasing an additional 728 shares during the period. Empirical Finance LLC’s holdings in Intercontinental Exchange were worth $1,313,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. First Business Financial Services Inc. lifted its stake in Intercontinental Exchange by 4.3% during the 3rd quarter. First Business Financial Services Inc. now owns 15,163 shares of the financial services provider’s stock valued at $2,436,000 after acquiring an additional 629 shares during the period. CIBC Asset Management Inc lifted its position in Intercontinental Exchange by 2.0% during the third quarter. CIBC Asset Management Inc now owns 175,987 shares of the financial services provider’s stock valued at $28,262,000 after purchasing an additional 3,430 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its position in Intercontinental Exchange by 9.4% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,667 shares of the financial services provider’s stock valued at $2,517,000 after purchasing an additional 1,346 shares during the period. Metis Global Partners LLC grew its position in Intercontinental Exchange by 4.5% during the 3rd quarter. Metis Global Partners LLC now owns 25,028 shares of the financial services provider’s stock worth $4,020,000 after purchasing an additional 1,087 shares during the period. Finally, Curi RMB Capital LLC raised its stake in shares of Intercontinental Exchange by 27.7% during the 3rd quarter. Curi RMB Capital LLC now owns 11,841 shares of the financial services provider’s stock valued at $1,902,000 after buying an additional 2,566 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the topic of several analyst reports. Barclays dropped their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Bank of America lifted their target price on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, August 6th. Finally, Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.13.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares in the company, valued at $7,159,108.05. The trade was a 4.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock valued at $1,202,259 in the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $155.55 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1 year low of $110.64 and a 1 year high of $167.99. The firm has a market capitalization of $89.31 billion, a PE ratio of 36.86, a P/E/G ratio of 2.57 and a beta of 1.08. The business’s 50 day moving average price is $160.97 and its 200-day moving average price is $149.92.

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

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. Intercontinental Exchange’s payout ratio is 42.65%.

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.