Strategy Asset Managers LLC Acquires 216 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Strategy Asset Managers LLC increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 42,381 shares of the financial services provider’s stock after purchasing an additional 216 shares during the quarter. Intercontinental Exchange comprises 1.2% of Strategy Asset Managers LLC’s investment portfolio, making the stock its 27th largest holding. Strategy Asset Managers LLC’s holdings in Intercontinental Exchange were worth $6,315,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz SE bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $240,000. Allstate Corp bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $2,536,000. Brown Brothers Harriman & Co. increased its holdings in shares of Intercontinental Exchange by 2.6% during the fourth quarter. Brown Brothers Harriman & Co. now owns 43,036 shares of the financial services provider’s stock valued at $6,413,000 after acquiring an additional 1,074 shares in the last quarter. DnB Asset Management AS raised its position in shares of Intercontinental Exchange by 2.2% during the fourth quarter. DnB Asset Management AS now owns 303,672 shares of the financial services provider’s stock worth $45,250,000 after purchasing an additional 6,667 shares during the period. Finally, Ramirez Asset Management Inc. grew its position in Intercontinental Exchange by 21.9% in the 4th quarter. Ramirez Asset Management Inc. now owns 6,117 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 1,100 shares during the period. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. Barclays raised their price objective 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. UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the business’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,563 shares of company stock valued at $10,998,990. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $174.65 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $167.12 and a two-hundred day simple moving average of $160.57. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $177.45. The firm has a market cap of $100.35 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 return on equity of 12.95% and a net margin of 23.42%. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared 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. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

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.