Permanent Capital Management LP Buys Shares of 3,243 Intercontinental Exchange, Inc. (NYSE:ICE)

Permanent Capital Management LP bought a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,243 shares of the financial services provider’s stock, valued at approximately $483,000. Intercontinental Exchange comprises approximately 0.1% of Permanent Capital Management LP’s holdings, making the stock its 28th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC increased its holdings in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after buying an additional 4,787 shares during the last quarter. M&T Bank Corp increased its holdings in Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after buying an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its holdings in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after buying an additional 61,110 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the 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 of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 10,580 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the sale, the senior vice president now directly owns 21,992 shares in the company, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,268 shares of company stock worth $11,262,789 over the last 90 days. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays upped their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research 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 company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Price Performance

ICE stock opened at $170.40 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $175.41. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $159.46 and a two-hundred day simple moving average of $159.28. The firm has a market capitalization of $97.91 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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%. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

Intercontinental Exchange Company 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.