Norges Bank purchased a new stake in Intercontinental Exchange, Inc. (NYSE: ICE – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,046,600 shares of the financial services provider’s stock, valued at approximately $ 690,223,000. Norges Bank owned 0.90% of Intercontinental Exchange at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Bartlett & Co. LLC lifted its holdings in Intercontinental Exchange by 1,107.4% in the fourth quarter. Bartlett & Co. LLC now owns 3,429 shares of the financial services provider’s stock valued at $ 469,000 after acquiring an additional 3,145 shares during the period. Walleye Capital LLC acquired a new position in the Intercontinental Exchange in the fourth quarter valued at approximately $ 656,000. Ascent Group LLC acquired a new position in the Intercontinental Exchange in the fourth quarter valued at approximately $ 642,000. Echo45 Advisors LLC acquired a new position in the Intercontinental Exchange in the fourth quarter valued at approximately $ 202,000. Finally, Quent Capital LLC acquired a new position in the Intercontinental Exchange in the fourth quarter valued at approximately $ 59,000. 87.36% of the stock is owned by institutional investors.
ICE has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Intercontinental Exchange from $ 143.00 to $ 117.00 in a research note on Thursday, May 19th. Keefe, Bruyette & Woods downgraded Intercontinental Exchange from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $ 83.00 to $ 80.00 in a research note on Monday, May 9th. Jefferies Financial Group reduced their target price on Intercontinental Exchange from $ 161.00 to $ 134.00 in a research note on Friday, May 20th. Citigroup reduced their target price on Intercontinental Exchange from $ 160.00 to $ 152.00 in a research note on Wednesday, April 13th. Finally, Rosenblatt Securities reduced their target price on Intercontinental Exchange from $ 157.00 to $ 150.00 and set a “buy” rating for the company in a research note on Thursday, April 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $ 140.18.
In related news, COO Mark Wassersug sold 11,000 shares of the stock in a transaction that occurred on Monday, April 11th. The stock was sold at an average price of $ 128.53, for a total value of $ 1,413,830.00. Following the completion of the transaction, the chief operating officer now directly owns 27,229 shares in the company, valued at $ 3,499,743.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey C. Sprecher sold 83,621 shares of the firm’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $ 98.97, for a total value of $ 8,275,970.37. Following the sale, the chief executive officer now directly owns 1,277,280 shares of the company stock, valued at approximately $ 126,412,401.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,296 shares of company stock valued at $ 9,951,320. 1.30% of the stock is owned by company insiders.
Shares of ICE opened at $ 90.33 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.01 and a current ratio of 1.01. Intercontinental Exchange, Inc. has a one year low of $ 90.05 and a one year high of $ 139.79. The stock has a market capitalization of $ 50.43 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 1.87 and a beta of 0.89. The stock has a 50 day moving average price of $ 106.09 and a 200 day moving average price of $ 122.07.
Intercontinental Exchange (NYSE: ICE – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The financial services provider reported $ 1.43 EPS for the quarter, topping the consensus estimate of $ 1.42 by $ 0.01. Intercontinental Exchange had a return on equity of 13.41% and a net margin of 44.24%. The firm had revenue of $ 1.90 billion during the quarter, compared to analysts’ expectations of $ 1.90 billion. During the same period in the previous year, the business earned $ 1.34 earnings per share. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange, Inc. will post 5.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Wednesday, June 15th will be issued a $ 0.38 dividend. This represents a $ 1.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend is Tuesday, June 14th. Intercontinental Exchange’s dividend payout ratio is currently 21.11%.
Intercontinental Exchange Profile: (Get Rating)
Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada . It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.
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