Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Pitcairn Co.

Pitcairn Co. lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,494 shares of the financial services provider’s stock after buying an additional 723 shares during the quarter. Pitcairn Co.’s holdings in Intercontinental Exchange were worth $2,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Raymond James Financial Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth $406,728,000. Swedbank AB grew its stake in shares of Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Intercontinental Exchange by 1,237.7% in the fourth quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock valued at $253,591,000 after buying an additional 1,574,386 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in Intercontinental Exchange by 285.9% in the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after buying an additional 1,301,200 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $170.43 on Thursday. The stock has a fifty day moving average price of $168.31 and a 200 day moving average price of $160.78. 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 stock has a market cap of $97.92 billion, a PE ratio of 35.65, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 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%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 dividend yield of 1.13%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the sale, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock worth $10,998,990 over the last three months. 1.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ICE. UBS Group raised their target price 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 restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays raised 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. Finally, Bank of America decreased their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.47.

Intercontinental Exchange 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.