LGT Fund Management Co Ltd. Purchases 13,795 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

LGT Fund Management Co Ltd. grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 29.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,122 shares of the financial services provider’s stock after purchasing an additional 13,795 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Intercontinental Exchange were worth $8,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $25,000. Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the third quarter worth $29,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter worth $31,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $40,000. Finally, Planning Capital Management Corp boosted its position in shares of Intercontinental Exchange by 96.7% during the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 147 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.4 %

Shares of ICE opened at $173.21 on Monday. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $173.54. The company has a market cap of $99.52 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.10 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company’s fifty day simple moving average is $157.41 and its 200-day simple moving average is $158.81.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The transaction 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 firm’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,268 shares of company stock valued at $11,262,789. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently 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. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. UBS Group increased their price objective 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. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

About Intercontinental Exchange

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.