Redmond Asset Management LLC Makes New $2.26 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Redmond Asset Management LLC acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 15,183 shares of the financial services provider’s stock, valued at approximately $2,262,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janus Henderson Group PLC boosted its holdings in shares of Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after buying an additional 3,460,096 shares in the last quarter. FMR LLC boosted its stake in Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares in the last quarter. Swedbank AB boosted its position in shares of Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after purchasing an additional 1,301,200 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position 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 purchasing an additional 390,332 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange 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 of the company’s stock, valued at approximately $3,661,008.24. The trade was a 32.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, 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. In the last three months, insiders have sold 66,196 shares of company stock worth $10,840,972. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $168.04 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 business has a 50 day simple moving average of $155.42 and a 200-day simple moving average of $158.13. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $169.78. The company has a market capitalization of $96.55 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 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%. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.71 earnings per share for the current 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 $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ICE. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, Barclays increased their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

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.