King Luther Capital Management Corp Grows Position in Intercontinental Exchange, Inc. (NYSE:ICE)

King Luther Capital Management Corp grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 87.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 229,107 shares of the financial services provider’s stock after acquiring an additional 106,569 shares during the quarter. King Luther Capital Management Corp’s holdings in Intercontinental Exchange were worth $34,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC grew its stake in Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after purchasing an additional 169,922 shares during the period. FMR LLC increased its position in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares during the period. Finally, Franklin Resources Inc. boosted its holdings 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 worth $865,455,000 after buying an additional 390,332 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $168.34 on Wednesday. The firm has a market capitalization of $96.72 billion, a price-to-earnings ratio of 35.22, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a fifty day moving average of $160.24 and a 200 day moving average of $159.43. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $175.41.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared 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 1.14%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ICE. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, UBS Group increased their target price 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,313 shares of company stock valued at $11,113,733 in the last quarter. Insiders own 1.10% of the company’s stock.

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.