Ninety One SA PTY Ltd Buys 19,755 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Ninety One SA PTY Ltd raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 32.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,911 shares of the financial services provider’s stock after acquiring an additional 19,755 shares during the quarter. Intercontinental Exchange comprises 1.6% of Ninety One SA PTY Ltd’s holdings, making the stock its 22nd largest position. Ninety One SA PTY Ltd’s holdings in Intercontinental Exchange were worth $10,391,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new position in Intercontinental Exchange in the 3rd quarter valued at about $25,000. Jones Financial Companies Lllp acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $26,000. Fortitude Family Office LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $28,000. BKM Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $31,000. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $35,000. 89.30% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jeffrey C. Sprecher sold 58,388 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the completion of the transaction, the chief executive officer now owns 1,179,895 shares of the company’s stock, valued at $161,893,392.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the transaction, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,491 shares of company stock valued at $21,454,204. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. Keefe, Bruyette & Woods restated an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Citigroup increased their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Barclays increased their price target on shares of Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $147.08.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock traded up $0.22 during mid-day trading on Thursday, reaching $130.96. The company had a trading volume of 1,071,299 shares, compared to its average volume of 2,386,148. Intercontinental Exchange, Inc. has a fifty-two week low of $103.81 and a fifty-two week high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The company has a market cap of $74.99 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.06 and a beta of 1.02. The business has a fifty day simple moving average of $136.42 and a 200 day simple moving average of $124.22.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter last year, the business posted $1.25 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

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.