Intercontinental Exchange Inc (ICE) Position Raised by Suntrust Banks Inc.

Suntrust Banks Inc. boosted its holdings in shares of Intercontinental Exchange Inc (NYSE:ICE) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 88,952 shares of the financial services provider’s stock after acquiring an additional 4,662 shares during the period. Suntrust Banks Inc.’s holdings in Intercontinental Exchange were worth $6,275,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in Intercontinental Exchange by 6.0% during the 4th quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock valued at $2,629,892,000 after purchasing an additional 2,104,818 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Intercontinental Exchange by 14.6% in the 3rd quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock valued at $712,683,000 after buying an additional 1,325,290 shares during the period. Capital International Investors increased its stake in shares of Intercontinental Exchange by 15.6% in the 3rd quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after buying an additional 1,176,185 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Intercontinental Exchange by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 7,249,668 shares of the financial services provider’s stock valued at $511,534,000 after buying an additional 157,093 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Intercontinental Exchange by 10.9% in the 4th quarter. Wells Fargo & Company MN now owns 5,647,728 shares of the financial services provider’s stock valued at $398,504,000 after buying an additional 557,332 shares during the period. 90.42% of the stock is owned by hedge funds and other institutional investors.

Shares of Intercontinental Exchange Inc (NYSE:ICE) opened at $72.48 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange Inc has a 52 week low of $56.97 and a 52 week high of $76.14. The company has a market capitalization of $41,663.16, a price-to-earnings ratio of 17.09, a P/E/G ratio of 2.51 and a beta of 0.66.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was up .5% compared to the same quarter last year. analysts anticipate that Intercontinental Exchange Inc will post 3.56 EPS for the current year.

Intercontinental Exchange announced that its Board of Directors has approved a share repurchase program on Thursday, November 2nd that authorizes the company to buyback $1.20 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.32%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 18.87%.

In related news, insider Dean S. Mathison sold 1,042 shares of Intercontinental Exchange stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $75.79, for a total transaction of $78,973.18. Following the completion of the sale, the insider now directly owns 12,485 shares of the company’s stock, valued at $946,238.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of Intercontinental Exchange stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $73.34, for a total value of $9,698,848.30. Following the sale, the chief executive officer now directly owns 1,454,661 shares of the company’s stock, valued at $106,684,837.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,655 shares of company stock valued at $13,460,395. 1.50% of the stock is owned by insiders.

ICE has been the subject of several research reports. Bank of America lowered their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Argus reissued a “buy” rating and issued a $67.00 target price (down from $80.00) on shares of Intercontinental Exchange in a research note on Friday, February 9th. Citigroup lifted their target price on Intercontinental Exchange from $75.00 to $77.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. UBS Group lifted their target price on Intercontinental Exchange from $73.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, Berenberg Bank initiated coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price for the company. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $76.62.

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About Intercontinental Exchange

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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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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