Center for Financial Planning Inc. Raises Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Center for Financial Planning Inc. increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,802 shares of the financial services provider’s stock after purchasing an additional 314 shares during the quarter. Center for Financial Planning Inc.’s holdings in Intercontinental Exchange were worth $417,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. AMF Tjanstepension AB grew its holdings in Intercontinental Exchange by 14.5% during the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock worth $20,441,000 after acquiring an additional 16,130 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Intercontinental Exchange by 836.4% in the third quarter. Exchange Traded Concepts LLC now owns 412 shares of the financial services provider’s stock valued at $66,000 after acquiring an additional 368 shares in the last quarter. Creative Planning lifted its position in shares of Intercontinental Exchange by 92.8% in the third quarter. Creative Planning now owns 104,616 shares of the financial services provider’s stock valued at $16,805,000 after acquiring an additional 50,354 shares in the last quarter. Swedbank AB lifted its position 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 acquiring an additional 7,640 shares in the last quarter. Finally, Wolff Wiese Magana LLC lifted its position in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 147 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the topic of several research reports. JPMorgan Chase & Co. decreased their target price on 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 lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays raised their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were 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 owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,358 shares of company stock valued at $5,535,650. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 1.0 %

Shares of NYSE ICE opened at $166.85 on Friday. The company has a market capitalization of $95.80 billion, a price-to-earnings ratio of 34.91, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 1.00. The business has a 50-day moving average of $154.20 and a two-hundred day moving average of $157.45. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $169.78.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (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%. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 37.66%.

Intercontinental Exchange Company 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.