Raymond James Financial Inc. Takes Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Raymond James Financial Inc. acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,729,539 shares of the financial services provider’s stock, valued at approximately $406,728,000. Raymond James Financial Inc. owned approximately 0.48% of Intercontinental Exchange at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ICE. State Street Corp lifted its stake in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares in the last quarter. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after buying an additional 169,922 shares in the last quarter. FMR LLC lifted its stake in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC lifted its stake in Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ICE shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods increased their price target 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. Barclays increased their price target 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, UBS Group increased their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Trading Up 1.1 %

NYSE:ICE opened at $171.77 on Thursday. The stock’s 50 day moving average price is $158.68 and its 200 day moving average price is $159.12. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $175.41. The company has a market capitalization of $98.69 billion, a P/E ratio of 35.94, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

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 analysts’ consensus estimates 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, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued 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 1.12%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other news, 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 sale, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the sale, the general counsel now owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was 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 worth $11,262,789 over the last 90 days. 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.