Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by M.D. Sass LLC

M.D. Sass LLC increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 30.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 403,415 shares of the financial services provider’s stock after buying an additional 93,227 shares during the quarter. Intercontinental Exchange comprises 4.5% of M.D. Sass LLC’s portfolio, making the stock its 12th largest position. M.D. Sass LLC owned about 0.07% of Intercontinental Exchange worth $60,113,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ICE. Janus Henderson Group PLC raised its stake in shares of Intercontinental Exchange by 326.3% during the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares during the period. Raymond James Financial Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $406,728,000. FMR LLC increased its stake in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the period. Swedbank AB lifted its holdings in Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after buying an additional 2,123,185 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in Intercontinental Exchange by 1,237.7% in the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after buying an additional 1,574,386 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $10,998,990 over the last three months. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ICE. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. UBS Group raised their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Trading Up 0.5 %

NYSE ICE opened at $175.27 on Tuesday. 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 one year low of $124.34 and a one year high of $176.16. The company has a 50-day simple moving average of $164.92 and a 200-day simple moving average of $160.16. The firm has a market capitalization of $100.70 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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 net margin of 23.42% and a return on equity of 12.95%. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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

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.