Intercontinental Exchange, Inc. (NYSE:ICE) Shares Bought by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lifted its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,306 shares of the financial services provider’s stock after purchasing an additional 189 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $791,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ICE. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange during the fourth quarter worth $25,000. Lee Danner & Bass Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $34,000. BankPlus Trust Department acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $40,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $45,000. Finally, Golden State Wealth Management LLC acquired a new position in Intercontinental Exchange in the 4th quarter worth about $51,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Bank of America dropped their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Barclays raised 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. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Trading Down 6.4 %

Shares of ICE opened at $156.89 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. The firm has a market capitalization of $90.13 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09. The firm has a 50-day moving average price of $168.49 and a 200 day moving average price of $160.78. 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 posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.22%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

Insider Activity

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange 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 sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 in the last quarter. 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.