Proficio Capital Partners LLC Acquires 606 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Proficio Capital Partners LLC grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 37.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,238 shares of the financial services provider’s stock after buying an additional 606 shares during the quarter. Proficio Capital Partners LLC’s holdings in Intercontinental Exchange were worth $333,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its holdings in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares during the last quarter. Geode Capital Management LLC increased its position in Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the period. FMR LLC raised its stake in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares during the period. Finally, Janus Henderson Group PLC grew its stake in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after purchasing an additional 3,460,096 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ICE shares. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the sale, the president now owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $175.58 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $176.49. The stock has a 50-day moving average of $165.53 and a 200-day moving average of $160.26. The company has a market cap of $100.88 billion, a PE ratio of 36.73, a P/E/G ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

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.