NEOS Investment Management LLC Boosts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

NEOS Investment Management LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 37.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 39,348 shares of the financial services provider’s stock after purchasing an additional 10,767 shares during the period. NEOS Investment Management LLC’s holdings in Intercontinental Exchange were worth $5,863,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ICE. Great Valley Advisor Group Inc. bought a new position in Intercontinental Exchange in the third quarter worth about $228,000. Larson Financial Group LLC increased its position in shares of Intercontinental Exchange by 17.6% during the third quarter. Larson Financial Group LLC now owns 1,279 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 191 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $530,000. Harvest Fund Management Co. Ltd increased its position in Intercontinental Exchange by 721.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 912 shares of the financial services provider’s stock valued at $147,000 after buying an additional 801 shares in the last quarter. Finally, Cadence Bank purchased a new stake in Intercontinental Exchange in the third quarter valued at about $233,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.5 %

Shares of ICE opened at $176.56 on Friday. The company has a market capitalization of $101.44 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The stock’s 50-day moving average price is $166.61 and its 200-day moving average price is $160.48. The company has a quick ratio of 0.99, a current 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 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%. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange’s payout ratio is 40.17%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barclays upped their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. 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 note on Friday, February 7th. UBS Group boosted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Three research 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, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. The trade was a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,563 shares of company stock worth $10,998,990. Company insiders own 1.10% of the company’s stock.

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.