Independent Franchise Partners LLP increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 0.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,066,581 shares of the financial services provider’s stock after acquiring an additional 11,744 shares during the quarter. Intercontinental Exchange makes up 4.8% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 13th largest position. Independent Franchise Partners LLP owned approximately 0.90% of Intercontinental Exchange worth $572,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. RB Capital Management LLC boosted its holdings in shares of Intercontinental Exchange by 3.2% during the first quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 126 shares during the period. United Bank grew its position in shares of Intercontinental Exchange by 2.7% in the 1st quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after buying an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC increased its stake in shares of Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after buying an additional 220 shares during the period. Sei Investments Co. lifted its stake in Intercontinental Exchange by 31.5% in the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after acquiring an additional 49,081 shares during the period. Finally, Prudential PLC bought a new stake in Intercontinental Exchange in the first quarter valued at $1,679,000. Institutional investors own 87.91% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on ICE. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $118.00 to $119.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 11th. Barclays lowered their target price on Intercontinental Exchange from $122.00 to $120.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 10th. The Goldman Sachs Group began coverage on Intercontinental Exchange in a research note on Friday, September 22nd. They issued a “neutral” rating and a $125.00 price target on the stock. Citigroup upgraded shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and boosted their target price for the company from $117.00 to $130.00 in a report on Friday, August 4th. Finally, Rosenblatt Securities decreased their price target on shares of Intercontinental Exchange from $168.00 to $154.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Five research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $132.42.
Intercontinental Exchange Stock Performance
ICE traded up $0.74 during midday trading on Monday, hitting $112.14. 609,943 shares of the company traded hands, compared to its average volume of 2,457,439. The company’s 50-day moving average is $110.31 and its 200 day moving average is $111.56. Intercontinental Exchange, Inc. has a 52 week low of $94.16 and a 52 week high of $118.79. The firm has a market capitalization of $64.18 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.69 and a beta of 0.98. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82.
Intercontinental Exchange Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Thursday, December 14th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Wednesday, December 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.50%. Intercontinental Exchange’s payout ratio is 38.98%.
Insider Transactions at Intercontinental Exchange
In other Intercontinental Exchange news, President Benjamin Jackson sold 5,000 shares of the stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $108.72, for a total value of $543,600.00. Following the transaction, the president now owns 125,184 shares of the company’s stock, valued at $13,610,004.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, President Benjamin Jackson sold 5,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $108.72, for a total transaction of $543,600.00. Following the transaction, the president now owns 125,184 shares of the company’s stock, valued at $13,610,004.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $115.43, for a total transaction of $57,715.00. Following the sale, the chief financial officer now owns 15,525 shares in the company, valued at $1,792,050.75. The disclosure for this sale can be found here. Insiders have sold a total of 99,210 shares of company stock worth $11,187,300 in the last ninety days. Insiders own 1.10% of the company’s stock.
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.
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