Bridgefront Capital LLC Buys Shares of 3,950 Intercontinental Exchange Inc. $ICE

Bridgefront Capital LLC bought a new stake in Intercontinental Exchange Inc. (NYSE:ICE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,950 shares of the financial services provider’s stock, valued at approximately $665,000.

A number of other institutional investors have also recently made changes to their positions in ICE. Knuff & Co LLC raised its stake in Intercontinental Exchange by 73.3% in the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares during the last quarter. Private Wealth Management Group LLC boosted its stake in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Caitlin John LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter worth $32,000. Capital A Wealth Management LLC grew its holdings in shares of Intercontinental Exchange by 26,000.0% during the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after buying an additional 260 shares in the last quarter. Finally, Cornerstone Planning Group LLC raised its position in shares of Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after buying an additional 153 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Finally, UBS Group restated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $194.73.

Intercontinental Exchange Trading Up 0.3%

Shares of ICE stock opened at $159.12 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company’s 50-day moving average price is $164.52 and its 200-day moving average price is $162.11. The stock has a market cap of $90.36 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 1.72 and a beta of 1.04.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period last year, the business earned $1.52 earnings per share. Intercontinental Exchange’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is 33.28%.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the sale, the insider owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the transaction, the president owned 165,304 shares in the company, valued at $25,412,183.92. This represents a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 348,418 shares of company stock worth $54,196,631. Insiders own 1.00% of the company’s stock.

About Intercontinental Exchange

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.