Summit Investment Advisors Inc. Has $1.65 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Summit Investment Advisors Inc. cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,077 shares of the financial services provider’s stock after selling 204 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Intercontinental Exchange were worth $1,651,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Synovus Financial Corp grew its position in shares of Intercontinental Exchange by 2.3% in the fourth quarter. Synovus Financial Corp now owns 34,638 shares of the financial services provider’s stock valued at $5,162,000 after purchasing an additional 764 shares during the last quarter. Stamos Capital Partners L.P. boosted its stake in Intercontinental Exchange by 222.4% during the 4th quarter. Stamos Capital Partners L.P. now owns 5,030 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 3,470 shares during the period. Altman Advisors Inc. grew its holdings in Intercontinental Exchange by 0.6% in the 4th quarter. Altman Advisors Inc. now owns 12,750 shares of the financial services provider’s stock valued at $1,900,000 after buying an additional 81 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $1,748,000. Finally, Optimize Financial Inc acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $310,000. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now owns 164,041 shares in the company, valued at $27,183,234.11. The trade was a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now owns 21,992 shares in the company, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,301 shares of company stock valued at $10,074,698 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $159.83 on Wednesday. The stock has a market capitalization of $91.82 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The firm has a 50 day moving average of $167.62 and a 200-day moving average of $160.54. 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) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.20%. Intercontinental Exchange’s dividend payout ratio (DPR) 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.