Promus Capital LLC Invests $753,000 in Intercontinental Exchange, Inc. (NYSE:ICE)

Promus Capital LLC acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, Holdings Channel.com reports. The fund acquired 5,054 shares of the financial services provider’s stock, valued at approximately $753,000. Intercontinental Exchange accounts for approximately 0.7% of Promus Capital LLC’s holdings, making the stock its 24th largest holding.

A number of other institutional investors have also recently made changes to their positions in ICE. Farther Finance Advisors LLC raised its stake in Intercontinental Exchange by 21.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,388 shares of the financial services provider’s stock worth $704,000 after acquiring an additional 775 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in Intercontinental Exchange by 5.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 69,407 shares of the financial services provider’s stock worth $11,150,000 after acquiring an additional 3,381 shares during the last quarter. QRG Capital Management Inc. raised its stake in Intercontinental Exchange by 5.8% in the 3rd quarter. QRG Capital Management Inc. now owns 16,661 shares of the financial services provider’s stock worth $2,676,000 after acquiring an additional 911 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 70 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC raised its stake in Intercontinental Exchange by 6.1% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 2,442 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $171.77 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $175.41. The business has a 50-day moving average price of $158.68 and a 200 day moving average price of $159.12. The firm has a market cap of $98.69 billion, a PE ratio of 35.94, a P/E/G ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. Sell-side 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 disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. The trade was a 2.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. The trade was a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,268 shares of company stock worth $11,262,789. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ICE shares. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays lifted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange 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.