KBC Group NV Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

KBC Group NV increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 46.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,349 shares of the financial services provider’s stock after purchasing an additional 62,419 shares during the quarter. KBC Group NV’s holdings in Intercontinental Exchange were worth $31,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 7.5% during the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of Intercontinental Exchange in the 2nd quarter worth $124,508,000. Janus Henderson Group PLC lifted its stake in shares of Intercontinental Exchange by 589.4% during the 1st quarter. Janus Henderson Group PLC now owns 804,507 shares of the financial services provider’s stock worth $110,559,000 after purchasing an additional 687,817 shares during the last quarter. James Hambro & Partners bought a new stake in Intercontinental Exchange during the second quarter valued at about $93,340,000. Finally, Assenagon Asset Management S.A. grew its stake in Intercontinental Exchange by 426.3% in the third quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after purchasing an additional 584,400 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the transaction, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Martha A. Tirinnanzi sold 509 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $158.98, for a total value of $80,920.82. Following the sale, the director now owns 3,958 shares in the company, valued at $629,242.84. This trade represents a 11.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ICE shares. Morgan Stanley raised their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. TD Cowen assumed coverage on shares of Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 price target on the stock. The Goldman Sachs Group upped their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target for the company. in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Intercontinental Exchange Trading Up 0.4 %

Shares of Intercontinental Exchange stock opened at $156.48 on Friday. The stock has a market cap of $89.85 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08. The firm has a fifty day moving average price of $161.20 and a 200 day moving average price of $149.70. Intercontinental Exchange, Inc. has a 1 year low of $110.11 and a 1 year high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue was up 17.3% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s payout ratio is presently 42.65%.

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.