Proficio Capital Partners LLC Has $49.69 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Proficio Capital Partners LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 20,334.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 333,491 shares of the financial services provider’s stock after buying an additional 331,859 shares during the quarter. Proficio Capital Partners LLC’s holdings in Intercontinental Exchange were worth $49,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp grew 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 grew its holdings 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 buying an additional 169,922 shares during the last quarter. FMR LLC grew its holdings in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC grew its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ICE shares. UBS Group raised their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays raised their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,368 shares of company stock valued at $9,908,492. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.2 %

Shares of ICE opened at $170.91 on Friday. The stock has a fifty day moving average price of $156.95 and a two-hundred day moving average price of $158.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $173.52. The company has a market cap of $98.20 billion, a price-to-earnings ratio of 35.75, a PEG ratio of 2.10 and a beta of 1.11.

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

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.12%. Intercontinental Exchange’s payout ratio is 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.