Intercontinental Exchange, Inc. (NYSE:ICE) Shares Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 15.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 377,280 shares of the financial services provider’s stock after acquiring an additional 49,221 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Intercontinental Exchange were worth $56,218,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ICE. Nomura Asset Management Co. Ltd. boosted its position in Intercontinental Exchange by 2.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 173,720 shares of the financial services provider’s stock worth $25,886,000 after purchasing an additional 4,450 shares during the period. Broadway Wealth Solutions Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $301,000. New Age Alpha Advisors LLC boosted its position in shares of Intercontinental Exchange by 7,658.0% in the fourth quarter. New Age Alpha Advisors LLC now owns 9,232 shares of the financial services provider’s stock worth $1,376,000 after buying an additional 9,113 shares during the period. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $1,196,258,000. Finally, Caisse Des Depots ET Consignations purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $3,338,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction 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 completion of the transaction, the president now directly owns 164,041 shares in the company, valued at $27,183,234.11. This represents a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the sale, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ICE has been the subject of several recent research reports. UBS Group increased their price objective 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Barclays boosted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

ICE stock opened at $174.65 on Friday. The stock’s 50 day simple moving average is $167.12 and its 200 day simple moving average is $160.56. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. The firm has a market cap of $100.35 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.10 and a beta of 1.08. 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 issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business 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 $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. 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.