Ramirez Asset Management Inc. Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Ramirez Asset Management Inc. grew its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,117 shares of the financial services provider’s stock after buying an additional 1,100 shares during the period. Ramirez Asset Management Inc.’s holdings in Intercontinental Exchange were worth $911,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after buying an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Intercontinental Exchange by 6.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 4,787 shares during the last quarter. M&T Bank Corp raised its stake in Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares during the period. Avantra Family Wealth Inc. purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in Intercontinental Exchange by 9.2% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after buying an additional 61,110 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the sale, the president now directly owns 155,174 shares in the company, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. UBS Group boosted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $176.56 on Friday. The firm has a 50 day moving average of $166.61 and a 200-day moving average of $160.48. 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 1 year low of $124.34 and a 1 year high of $177.45. The stock has a market capitalization of $101.44 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released 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%. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared 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. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

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.