Lee Danner & Bass Inc. Invests $34,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 230 shares of the financial services provider’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Intech Investment Management LLC grew its position in Intercontinental Exchange by 45.7% during the third quarter. Intech Investment Management LLC now owns 22,617 shares of the financial services provider’s stock worth $3,633,000 after buying an additional 7,090 shares during the period. Pacer Advisors Inc. grew its position in Intercontinental Exchange by 18.4% during the third quarter. Pacer Advisors Inc. now owns 70,154 shares of the financial services provider’s stock worth $11,270,000 after buying an additional 10,917 shares during the period. Eagle Asset Management Inc. grew its position in Intercontinental Exchange by 53.0% during the third quarter. Eagle Asset Management Inc. now owns 23,831 shares of the financial services provider’s stock worth $3,728,000 after buying an additional 8,258 shares during the period. Nwam LLC acquired a new position in Intercontinental Exchange during the third quarter worth about $240,000. Finally, GenTrust LLC acquired a new position in Intercontinental Exchange during the third quarter worth about $235,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 over the last quarter. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $174.42 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $100.22 billion, a price-to-earnings ratio of 36.49, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $175.99. The company’s 50 day simple moving average is $164.29 and its 200 day simple moving average is $160.07.

Intercontinental Exchange (NYSE:ICE) last posted 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 return on equity of 12.95% and a net margin of 23.42%. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Barclays upped their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered 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. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, UBS Group increased 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. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

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.