Ethic Inc. Has $10.63 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Ethic Inc. grew its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 9.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,307 shares of the financial services provider's stock after purchasing an additional 6,225 shares during the period. Ethic Inc.'s holdings in Intercontinental Exchange were worth $10,625,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $1,196,258,000. Kovitz Investment Group Partners LLC lifted its position in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock valued at $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Intercontinental Exchange in the 4th quarter valued at about $406,728,000. Swedbank AB grew its stake in shares of Intercontinental Exchange by 2,293.3% in the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider's stock worth $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of Intercontinental Exchange by 1,237.7% in the fourth quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider's stock worth $253,591,000 after purchasing an additional 1,574,386 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ICE shares. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $185.93.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the sale, the president now owns 160,059 shares of the company's stock, valued at approximately $26,627,415.24. This trade represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,368 shares of company stock worth $7,077,789. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Up 1.3%

ICE traded up $2.26 during trading on Friday, reaching $178.73. 3,313,509 shares of the stock traded hands, compared to its average volume of 2,952,055. The stock has a market cap of $102.52 billion, a price-to-earnings ratio of 37.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock's 50-day simple moving average is $166.93 and its two-hundred day simple moving average is $160.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business posted $1.48 EPS. Intercontinental Exchange's quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Intercontinental Exchange Company 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.