Promus Capital LLC Invests $753,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Promus Capital LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,054 shares of the financial services provider’s stock, valued at approximately $753,000. Intercontinental Exchange comprises approximately 0.7% of Promus Capital LLC’s holdings, making the stock its 24th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP bought a new position in Intercontinental Exchange during the third quarter valued at approximately $29,000. FSA Wealth Management LLC bought a new position in Intercontinental Exchange during the third quarter valued at approximately $31,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $40,000. Finally, Planning Capital Management Corp boosted its stake in Intercontinental Exchange by 96.7% during the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after buying an additional 147 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.1 %

Shares of NYSE ICE opened at $171.77 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50 day moving average price is $158.68 and its 200-day moving average price is $159.12. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41. The company has a market cap of $98.69 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.12%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICE. UBS Group increased their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Barclays upped their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Buying and Selling

In related news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,268 shares of company stock valued at $11,262,789 over the last quarter. 1.10% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.