Ewa LLC Makes New Investment in Intercontinental Exchange Inc. (NYSE:ICE)

Ewa LLC bought a new position in Intercontinental Exchange Inc. (NYSE:ICE) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,313 shares of the financial services provider’s stock, valued at approximately $226,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. REAP Financial Group LLC grew its stake in Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 91 shares during the period. Menard Financial Group LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $29,000. Rakuten Securities Inc. grew its stake in Intercontinental Exchange by 595.8% in the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 143 shares during the period. Global Trust Asset Management LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter valued at $31,000. Finally, Redwood Park Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth $33,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE ICE opened at $178.27 on Friday. Intercontinental Exchange Inc. has a 12-month low of $136.21 and a 12-month high of $181.65. The company has a market cap of $102.26 billion, a P/E ratio of 36.91, a P/E/G ratio of 1.93 and a beta of 1.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average price of $172.76 and a 200 day moving average price of $164.79.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $1.48 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.08%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Bank of America dropped their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley upped their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Barclays upped their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $188.46.

Insider Activity at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel now owns 48,480 shares of the company’s stock, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 227,954 shares of company stock worth $40,796,663. Corporate insiders own 1.00% of the company’s stock.

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.