Arrowstreet Capital Limited Partnership Increases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Arrowstreet Capital Limited Partnership raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 55.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,557,569 shares of the financial services provider’s stock after buying an additional 555,680 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.27% of Intercontinental Exchange worth $232,093,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ICE. American Money Management LLC increased its holdings in Intercontinental Exchange by 1.1% during the 4th quarter. American Money Management LLC now owns 14,201 shares of the financial services provider’s stock worth $2,116,000 after purchasing an additional 148 shares during the period. Strategy Asset Managers LLC increased its stake in shares of Intercontinental Exchange by 0.5% during the fourth quarter. Strategy Asset Managers LLC now owns 42,381 shares of the financial services provider’s stock worth $6,315,000 after buying an additional 216 shares during the period. Allianz SE acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $240,000. Allstate Corp purchased a new position in Intercontinental Exchange in the fourth quarter worth approximately $2,536,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Intercontinental Exchange by 2.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 43,036 shares of the financial services provider’s stock worth $6,413,000 after acquiring an additional 1,074 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $174.65 on Friday. The stock has a market capitalization of $100.35 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 2.10 and a beta of 1.08. The business’s 50 day moving average is $167.12 and its two-hundred day moving average is $160.56. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. 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 (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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%. Research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s payout ratio is currently 40.17%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,563 shares of company stock valued at $10,998,990. Corporate 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.