Ashton Thomas Securities LLC Acquires New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Ashton Thomas Securities LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,081 shares of the financial services provider’s stock, valued at approximately $174,000.

Several other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its stake in shares of Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after buying an additional 122,169 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Intercontinental Exchange by 200.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock valued at $1,987,000 after purchasing an additional 9,642 shares during the period. BDF Gestion purchased a new stake in Intercontinental Exchange during the 2nd quarter worth about $2,849,000. LRI Investments LLC bought a new position in Intercontinental Exchange in the 1st quarter worth about $137,000. Finally, Burke & Herbert Bank & Trust Co. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $1,366,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $168.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith A. Sprieser sold 1,941 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $160.69, for a total transaction of $311,899.29. Following the transaction, the director now directly owns 26,908 shares of the company’s stock, valued at approximately $4,323,846.52. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, 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 Down 0.6 %

Shares of ICE opened at $156.08 on Wednesday. Intercontinental Exchange, Inc. has a 1 year low of $108.62 and a 1 year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a 50 day simple moving average of $161.43 and a two-hundred day simple moving average of $149.49. The firm has a market cap of $89.62 billion, a P/E ratio of 36.98, a P/E/G ratio of 2.61 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The company had revenue of $2.35 billion during 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 revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 EPS. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.