Intercontinental Exchange, Inc. (NYSE:ICE) Stake Boosted by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,217,549 shares of the financial services provider’s stock after purchasing an additional 16,706 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.40% of Intercontinental Exchange worth $284,800,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in Intercontinental Exchange in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $31,000. Finally, First Capital Advisors Group LLC. bought a new position in Intercontinental Exchange in the 2nd quarter worth approximately $35,000. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, President Benjamin Jackson sold 27,970 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the completion of the sale, the president now directly owns 138,487 shares in the company, valued at $18,659,738.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. 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.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $133.55 on Monday. The stock has a market cap of $76.47 billion, a PE ratio of 31.80, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02. The business has a fifty day simple moving average of $136.22 and a 200-day simple moving average of $123.89. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Analyst Ratings Changes

ICE has been the subject of a number of recent analyst reports. Raymond James increased their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a report on Friday, January 5th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. UBS Group upped their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Finally, Citigroup upped their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $147.08.

Intercontinental Exchange Company 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.