Capital World Investors Raises Position in Intercontinental Exchange Inc. $ICE

Capital World Investors increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 15.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,028,964 shares of the financial services provider’s stock after acquiring an additional 928,047 shares during the period. Capital World Investors’ holdings in Intercontinental Exchange were worth $1,184,238,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dynasty Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the third quarter worth approximately $897,000. Rockland Trust Co. increased its stake in shares of Intercontinental Exchange by 19.7% in the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after acquiring an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Intercontinental Exchange by 37.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after purchasing an additional 3,261 shares during the period. Eastern Bank lifted its holdings in Intercontinental Exchange by 14.6% during the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after acquiring an additional 25,980 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its holdings in shares of Intercontinental Exchange by 1.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after buying an additional 13,497 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 12,861 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the transaction, the president owned 165,692 shares in the company, valued at $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 350,018 shares of company stock valued at $54,457,751. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $160.03 on Wednesday. The firm’s fifty day moving average is $164.71 and its 200-day moving average is $162.53. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The firm has a market cap of $90.88 billion, a PE ratio of 27.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. Sell-side analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of analyst reports. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, UBS Group reaffirmed a “buy” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $194.73.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.