Magnetar Financial LLC Boosts Stock Position in Intercontinental Exchange Inc. $ICE

Magnetar Financial LLC grew its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 726.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,653 shares of the financial services provider’s stock after purchasing an additional 47,163 shares during the quarter. Magnetar Financial LLC’s holdings in Intercontinental Exchange were worth $9,039,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Knuff & Co LLC boosted its stake in Intercontinental Exchange by 73.3% in the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares in the last quarter. Private Wealth Management Group LLC raised its stake in shares of Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Caitlin John LLC purchased a new position in shares of Intercontinental Exchange during the third quarter worth approximately $32,000. Capital A Wealth Management LLC lifted its holdings in shares of Intercontinental Exchange by 26,000.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 260 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider owned 54,319 shares in the company, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 350,018 shares of company stock valued at $54,457,751 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ICE. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research note on Friday, March 6th. UBS Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Monday, February 9th. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $194.73.

Intercontinental Exchange Trading Down 3.5%

NYSE:ICE opened at $160.03 on Wednesday. The firm has a market capitalization of $90.88 billion, a P/E ratio of 27.74, a P/E/G ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a fifty day moving average of $164.71 and a 200 day moving average of $162.53. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm earned $1.52 EPS. The company’s revenue was up 7.8% on a year-over-year basis. On average, research 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. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 33.28%.

Intercontinental Exchange 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.