Enhancing Capital LLC Acquires New Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Enhancing Capital LLC acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,166 shares of the financial services provider’s stock, valued at approximately $472,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its position in Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after buying an additional 281,503 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 worth $1,848,868,000 after purchasing an additional 169,922 shares in the last quarter. FMR LLC increased its holdings in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC increased its holdings in shares of Intercontinental Exchange by 4.0% in 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 in the last quarter. Finally, Franklin Resources Inc. increased 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 purchasing an additional 390,332 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $172.64 on Wednesday. The company has a market capitalization of $99.19 billion, a PE ratio of 36.12, a price-to-earnings-growth 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 business’s fifty day moving average is $162.53 and its 200 day moving average is $159.80. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41.

Intercontinental Exchange (NYSE:ICE) last released its 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 year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.11%. Intercontinental Exchange’s payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research analyst reports. UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. 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 presently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock worth $10,998,990 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

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.