The Manufacturers Life Insurance Company boosted its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 15.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,591,304 shares of the financial services provider’s stock after buying an additional 209,660 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.27% of Intercontinental Exchange worth $112,282,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. SeaCrest Wealth Management LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $122,000. Cerebellum GP LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $127,000. Americafirst Capital Management LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth $145,000. Penserra Capital Management LLC raised its holdings in Intercontinental Exchange by 75.8% in the 4th quarter. Penserra Capital Management LLC now owns 2,400 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 1,035 shares in the last quarter. Finally, Calton & Associates Inc. bought a new position in Intercontinental Exchange in the 4th quarter worth $173,000. Institutional investors own 90.30% of the company’s stock.
In related news, Director Jean Marc Forneri sold 8,000 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $70.68, for a total transaction of $565,440.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dean S. Mathison sold 1,042 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $75.79, for a total transaction of $78,973.18. Following the sale, the insider now directly owns 12,485 shares in the company, valued at $946,238.15. The disclosure for this sale can be found here. Insiders have sold a total of 48,910 shares of company stock worth $3,579,672 over the last three months. 1.50% of the stock is currently owned by insiders.
ICE has been the subject of several research reports. Argus upped their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Wednesday, January 3rd. UBS Group upped their price objective on shares of Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Citigroup upped their price objective on shares of Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, Berenberg Bank initiated coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price objective for the company. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $76.08.
Intercontinental Exchange Inc (NYSE ICE) opened at $72.55 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market cap of $41,383.65, a PE ratio of 24.17, a P/E/G ratio of 2.51 and a beta of 0.66. Intercontinental Exchange Inc has a 12 month low of $56.97 and a 12 month high of $76.14.
Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.01. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.15 billion. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. Intercontinental Exchange’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the business earned $0.71 EPS. analysts anticipate that Intercontinental Exchange Inc will post 3.54 earnings per share for the current year.
Intercontinental Exchange announced that its Board of Directors has approved a stock buyback plan on Thursday, November 2nd that permits the company to buyback $1.20 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio (DPR) is 18.87%.
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Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
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