Elwood Capital Partners LP Acquires New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Elwood Capital Partners LP bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, Holdings Channel reports. The institutional investor bought 13,500 shares of the financial services provider’s stock, valued at approximately $2,012,000. Intercontinental Exchange accounts for about 2.0% of Elwood Capital Partners LP’s investment portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Geode Capital Management LLC grew its holdings in shares of 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 buying an additional 327,637 shares in the last quarter. Nemes Rush Group LLC boosted its position in Intercontinental Exchange by 8.9% during the fourth quarter. Nemes Rush Group LLC now owns 55,025 shares of the financial services provider’s stock worth $8,199,000 after acquiring an additional 4,490 shares during the last quarter. Tradewinds LLC. purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $208,000. National Bank of Canada FI raised its holdings in Intercontinental Exchange by 14.8% in the 4th quarter. National Bank of Canada FI now owns 353,238 shares of the financial services provider’s stock valued at $52,639,000 after acquiring an additional 45,587 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG lifted its stake in shares of Intercontinental Exchange by 0.3% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 120,358 shares of the financial services provider’s stock worth $17,935,000 after purchasing an additional 346 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 1.3 %

NYSE:ICE opened at $172.51 on Tuesday. The business’s 50-day moving average is $167.59 and its two-hundred day moving average is $160.65. The firm has a market capitalization of $99.12 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $177.45. 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 (NYSE:ICE) last announced 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 net margin of 23.42% and a return on equity of 12.95%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share 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. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.11%. Intercontinental Exchange’s payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ICE. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their price objective 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. Barclays raised their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $178.80.

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.