Simmons Bank Has $3.57 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Simmons Bank boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 27,832 shares of the financial services provider’s stock after buying an additional 1,090 shares during the quarter. Simmons Bank’s holdings in Intercontinental Exchange were worth $3,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in shares of Intercontinental Exchange by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,009,313 shares of the financial services provider’s stock valued at $386,486,000 after purchasing an additional 78,138 shares during the period. Welch & Forbes LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $214,000. Apollon Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 99.0% during the 4th quarter. Apollon Wealth Management LLC now owns 13,857 shares of the financial services provider’s stock worth $1,780,000 after acquiring an additional 6,893 shares during the period. Lincoln National Corp boosted its position in shares of Intercontinental Exchange by 2.6% during the 4th quarter. Lincoln National Corp now owns 12,661 shares of the financial services provider’s stock valued at $1,626,000 after acquiring an additional 319 shares in the last quarter. Finally, Fielder Capital Group LLC bought a new stake in Intercontinental Exchange in the fourth quarter valued at about $372,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.9 %

Shares of NYSE ICE traded up $2.44 during midday trading on Tuesday, reaching $133.72. 2,381,926 shares of the stock were exchanged, compared to its average volume of 2,417,967. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The company has a market capitalization of $76.70 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day simple moving average of $134.78 and a two-hundred day simple moving average of $126.35.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. The company’s revenue was up 20.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 earnings per share. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 dividend on an annualized basis and a yield of 1.35%. Intercontinental Exchange’s payout ratio is 41.28%.

Insider Buying and Selling at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ICE. UBS Group upped their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Bank of America cut their price objective on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday. Keefe, Bruyette & Woods reduced their target price on shares of Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $164.00 price target on shares of Intercontinental Exchange in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.92.

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.