Ironwood Investment Management LLC Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Ironwood Investment Management LLC increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 15.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,781 shares of the financial services provider’s stock after acquiring an additional 630 shares during the quarter. Ironwood Investment Management LLC’s holdings in Intercontinental Exchange were worth $712,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Strategic Advisors LLC lifted its position in shares of Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 66 shares during the period. Commons Capital LLC lifted its holdings in Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after buying an additional 69 shares during the period. Brooklyn Investment Group boosted its position in Intercontinental Exchange by 2.2% during the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 70 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of Intercontinental Exchange by 3.7% in the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 70 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in shares of Intercontinental Exchange by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 71 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $171.28 on Friday. The firm has a 50 day moving average of $161.47 and a two-hundred day moving average of $159.64. The firm has a market capitalization of $98.41 billion, a PE ratio of 35.83, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $175.41.

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

Intercontinental Exchange Announces Dividend

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

Insider Activity at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,313 shares of company stock worth $11,113,733. 1.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on ICE. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $178.80.

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.