WFA of San Diego LLC Buys Shares of 681 Intercontinental Exchange, Inc. (NYSE:ICE)

WFA of San Diego LLC purchased a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 681 shares of the financial services provider’s stock, valued at approximately $77,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich lifted its position in Intercontinental Exchange by 91,224.9% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 92,329,444 shares of the financial services provider’s stock valued at $10,440,613,000 after buying an additional 92,228,344 shares during the last quarter. Norges Bank acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $579,605,000. T. Rowe Price Investment Management Inc. lifted its position in Intercontinental Exchange by 45.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after buying an additional 5,354,161 shares during the last quarter. Morgan Stanley lifted its position in Intercontinental Exchange by 18.9% in the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after buying an additional 4,044,744 shares during the last quarter. Finally, Veritas Asset Management LLP lifted its position in Intercontinental Exchange by 76.9% in the first quarter. Veritas Asset Management LLP now owns 7,450,402 shares of the financial services provider’s stock valued at $777,002,000 after buying an additional 3,239,605 shares during the last quarter. 87.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ICE has been the topic of several research reports. The Goldman Sachs Group initiated coverage on shares of Intercontinental Exchange in a research report on Friday, September 22nd. They set a “neutral” rating and a $125.00 price target on the stock. Bank of America reduced their price target on shares of Intercontinental Exchange from $141.00 to $140.00 in a research report on Tuesday, October 3rd. UBS Group increased their price target on shares of Intercontinental Exchange from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, October 21st. Finally, Jefferies Financial Group raised their target price on shares of Intercontinental Exchange from $129.00 to $134.00 and gave the company a “buy” rating in a report on Tuesday, September 19th. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.42.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $112.15 on Tuesday. The firm has a market capitalization of $64.19 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.69 and a beta of 0.98. Intercontinental Exchange, Inc. has a 52 week low of $94.16 and a 52 week high of $118.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $110.25 and its two-hundred day moving average is $111.60.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Thursday, December 14th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, December 13th. Intercontinental Exchange’s payout ratio is currently 38.98%.

Insiders Place Their Bets

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 88,683 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $112.82, for a total transaction of $10,005,216.06. Following the transaction, the chief executive officer now directly owns 1,169,965 shares of the company’s stock, valued at approximately $131,995,451.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jeffrey C. Sprecher sold 88,683 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $112.82, for a total value of $10,005,216.06. Following the sale, the chief executive officer now owns 1,169,965 shares of the company’s stock, valued at $131,995,451.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $113.99, for a total transaction of $182,384.00. Following the completion of the sale, the senior vice president now directly owns 18,402 shares in the company, valued at approximately $2,097,643.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,210 shares of company stock valued at $11,187,300. Insiders own 1.10% of the company’s stock.

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.