Manning & Napier Group LLC Buys 146,170 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Manning & Napier Group LLC raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 21.6% during the 4th quarter, Holdings Channel reports. The fund owned 822,330 shares of the financial services provider’s stock after purchasing an additional 146,170 shares during the period. Intercontinental Exchange comprises approximately 1.3% of Manning & Napier Group LLC’s holdings, making the stock its 25th largest position. Manning & Napier Group LLC’s holdings in Intercontinental Exchange were worth $105,612,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Intercontinental Exchange by 7.0% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after purchasing an additional 8,320 shares in the last quarter. First County Bank CT boosted its position in shares of Intercontinental Exchange by 2.7% in the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 100 shares in the last quarter. CIC Wealth LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $221,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE stock traded up $0.45 during midday trading on Friday, reaching $137.43. The stock had a trading volume of 2,596,799 shares, compared to its average volume of 2,578,593. The stock has a market cap of $78.70 billion, a PE ratio of 32.72, a P/E/G ratio of 2.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a fifty day simple moving average of $134.41 and a two-hundred day simple moving average of $122.02. Intercontinental Exchange, Inc. has a 52-week low of $99.84 and a 52-week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 5.91 EPS for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.31%. The ex-dividend date is Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is currently 42.86%.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $125.90, for a total value of $7,351,049.20. Following the completion of the transaction, the chief executive officer now owns 1,152,375 shares in the company, valued at approximately $145,084,012.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Jeffrey C. Sprecher sold 58,388 shares of Intercontinental Exchange stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $125.90, for a total value of $7,351,049.20. Following the completion of the transaction, the chief executive officer now owns 1,152,375 shares in the company, valued at approximately $145,084,012.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. Insiders sold a total of 155,253 shares of company stock worth $20,486,424 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ICE. UBS Group raised their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Piper Sandler raised their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Rosenblatt Securities raised their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Morgan Stanley raised their price objective on Intercontinental Exchange from $133.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.83.

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.