Intercontinental Exchange, Inc. (NYSE:ICE) Position Boosted by UNIVEST FINANCIAL Corp

UNIVEST FINANCIAL Corp grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,777 shares of the financial services provider's stock after purchasing an additional 3,366 shares during the quarter. UNIVEST FINANCIAL Corp's holdings in Intercontinental Exchange were worth $5,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Nwam LLC purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $240,000. Great Valley Advisor Group Inc. purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $228,000. Kingsview Wealth Management LLC raised its position in Intercontinental Exchange by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 10,673 shares of the financial services provider's stock worth $1,715,000 after acquiring an additional 97 shares during the last quarter. Swedbank AB lifted its holdings in shares of Intercontinental Exchange by 9.0% in the third quarter. Swedbank AB now owns 92,582 shares of the financial services provider's stock valued at $14,872,000 after purchasing an additional 7,640 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in Intercontinental Exchange by 17.6% during the third quarter. Larson Financial Group LLC now owns 1,279 shares of the financial services provider's stock worth $205,000 after buying an additional 191 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

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Intercontinental Exchange Stock Performance

NYSE ICE traded down $1.71 during trading hours on Friday, reaching $174.65. The company's stock had a trading volume of 3,199,231 shares, compared to its average volume of 2,778,671. The stock has a market cap of $100.35 billion, a PE ratio of 36.54, a PEG ratio of 2.10 and a beta of 1.08. The business has a 50-day simple moving average of $167.12 and a 200 day simple moving average of $160.56. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Barclays upped their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $178.80.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were 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 approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the president now owns 147,274 shares in the company, valued at $25,247,181.82. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,563 shares of company stock worth $10,998,990. Insiders own 1.10% of the company's stock.

Intercontinental Exchange 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.