Arrowstreet Capital Limited Partnership Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Arrowstreet Capital Limited Partnership raised its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 55.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,557,569 shares of the financial services provider’s stock after purchasing an additional 555,680 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Intercontinental Exchange were worth $232,093,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at $31,000. Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $34,000. BankPlus Trust Department acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $45,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 1.0 %

NYSE ICE opened at $174.65 on Friday. 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 fifty-two week low of $124.34 and a fifty-two week high of $177.45. The business has a 50 day moving average price of $167.12 and a two-hundred day moving average price of $160.56. The stock has a market cap of $100.35 billion, a PE ratio of 36.54, a P/E/G ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced 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%. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid 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 dividend yield of 1.10%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were 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 of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on ICE shares. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Barclays increased their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group boosted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price 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.