Ninepoint Partners LP Purchases New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Ninepoint Partners LP acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,279 shares of the financial services provider’s stock, valued at approximately $678,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HTLF Bank purchased a new stake in Intercontinental Exchange during the fourth quarter worth about $403,000. Fidelis Capital Partners LLC increased its stake in Intercontinental Exchange by 6.6% in the 4th quarter. Fidelis Capital Partners LLC now owns 3,426 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 212 shares in the last quarter. Xponance Inc. raised its holdings in Intercontinental Exchange by 5.4% during the fourth quarter. Xponance Inc. now owns 74,586 shares of the financial services provider’s stock worth $9,579,000 after purchasing an additional 3,791 shares during the last quarter. Ninety One SA PTY Ltd grew its holdings in Intercontinental Exchange by 32.3% in the fourth quarter. Ninety One SA PTY Ltd now owns 80,911 shares of the financial services provider’s stock valued at $10,391,000 after purchasing an additional 19,755 shares during the last quarter. Finally, Cambridge Trust Co. boosted its position in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Cambridge Trust Co. now owns 136,898 shares of the financial services provider’s stock worth $17,582,000 after buying an additional 1,370 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at $2,276,461.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the transaction, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Douglas Foley sold 7,070 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the transaction, the senior vice president now owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,491 shares of company stock worth $21,454,204. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ICE shares. Bank of America reduced their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday. Raymond James increased their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Citigroup lifted their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Barclays raised their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Stock Down 0.3 %

Shares of Intercontinental Exchange stock traded down $0.37 on Friday, hitting $130.61. 897,429 shares of the company’s stock traded hands, compared to its average volume of 2,379,472. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The stock has a market cap of $74.79 billion, a P/E ratio of 31.06, a PEG ratio of 2.07 and a beta of 1.02. The firm’s 50-day moving average is $136.36 and its 200 day moving average is $124.27.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter in the prior year, the firm posted $1.25 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 24.5% compared to the same quarter last year. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

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.