Frank Rimerman Advisors LLC Acquires 1,351 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Frank Rimerman Advisors LLC lifted its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 28.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,144 shares of the financial services provider’s stock after purchasing an additional 1,351 shares during the period. Frank Rimerman Advisors LLC’s holdings in Intercontinental Exchange were worth $916,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Strategic Advisors LLC grew its holdings in Intercontinental Exchange by 5.1% during the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 66 shares during the period. Commons Capital LLC grew its stake in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 69 shares during the period. Brooklyn Investment Group increased its holdings in Intercontinental Exchange by 2.2% in the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 70 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in Intercontinental Exchange by 3.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 70 shares during the period. Finally, Johnson Investment Counsel Inc. lifted its holdings in Intercontinental Exchange by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 71 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,313 shares of company stock valued at $11,113,733 over the last quarter. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $171.28 on Friday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $175.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $98.41 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.08. The company’s fifty day moving average price is $161.47 and its 200-day moving average price is $159.64.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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 research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $0.48 dividend. 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 1.12%. Intercontinental Exchange’s payout ratio is 40.17%.

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.