Resona Asset Management Co. Ltd. Takes $25.52 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Resona Asset Management Co. Ltd. acquired a new position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 171,069 shares of the financial services provider’s stock, valued at approximately $25,524,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after acquiring an additional 538,670 shares during the period. Geode Capital Management LLC raised its stake in Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the period. Norges Bank acquired a new position in Intercontinental Exchange in the 4th quarter valued at about $1,196,258,000. Franklin Resources Inc. grew its stake in shares of Intercontinental Exchange by 8.0% in the 3rd 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 during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of Intercontinental Exchange by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,940,448 shares of the financial services provider’s stock worth $587,166,000 after buying an additional 11,767 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $156.89 on Friday. The firm has a 50 day moving average of $168.49 and a two-hundred day moving average of $160.78. The stock has a market capitalization of $90.13 billion, a PE ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09. 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, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45.

Intercontinental Exchange (NYSE:ICE) last released its earnings results 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, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

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 dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.22%. Intercontinental Exchange’s payout ratio is 40.17%.

Analyst Ratings Changes

A number of research analysts recently commented on ICE shares. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the sale, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated 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 transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. 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 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

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.