Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,925 shares of the financial services provider’s stock after purchasing an additional 3,599 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intercontinental Exchange were worth $7,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Intercontinental Exchange during the third quarter worth $25,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange during the third quarter worth $26,000. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $28,000. BKM Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth $31,000. Finally, First Capital Advisors Group LLC. bought a new position in shares of Intercontinental Exchange during the second quarter worth $35,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total value of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at approximately $161,893,392.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold 157,491 shares of company stock valued at $21,454,204 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the subject of a number of research reports. Citigroup upped their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Raymond James increased their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. UBS Group increased their price objective on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Finally, Bank of America lowered their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Trading Up 0.2 %

ICE stock opened at $131.21 on Monday. The company has a market capitalization of $75.13 billion, a PE ratio of 31.24, a P/E/G ratio of 2.08 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The firm’s 50-day moving average is $136.27 and its 200 day moving average is $124.64. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly 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 company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

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.