J. Stern & Co. LLP Purchases 262,762 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

J. Stern & Co. LLP raised its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2,136.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 275,062 shares of the financial services provider’s stock after purchasing an additional 262,762 shares during the period. Intercontinental Exchange comprises 3.9% of J. Stern & Co. LLP’s portfolio, making the stock its 11th biggest position. J. Stern & Co. LLP’s holdings in Intercontinental Exchange were worth $40,987,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Intercontinental Exchange during the fourth quarter worth $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 boosted its position in 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 valued at $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. AMF Tjanstepension AB grew its stake 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 purchasing an additional 1,574,386 shares during the last quarter. Finally, Independent Franchise Partners LLP raised its holdings in Intercontinental Exchange by 20.8% in the fourth quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider’s stock worth $918,026,000 after purchasing an additional 1,062,904 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the transaction, the president now owns 164,041 shares in the company, valued at approximately $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares of the company’s stock, valued at $3,396,876. This trade represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,931 shares of company stock valued at $10,492,868. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. lowered their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America cut their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays increased their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $182.47.

Intercontinental Exchange Trading Up 0.2 %

NYSE ICE opened at $160.99 on Thursday. The company has a fifty day moving average of $166.59 and a 200 day moving average of $160.42. The company has a market capitalization of $92.49 billion, a PE ratio of 33.68, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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%. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio 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.