44,699 Shares in Intercontinental Exchange Inc. $ICE Bought by Lbp Am Sa

Key Points

• Lbp Am Sa bought a new position of 44,699 shares in Intercontinental Exchange (NYSE:ICE) in the fourth quarter, valued at about $7.24 million, and institutional investors now own roughly 89.3% of the stock.
• ICE topped expectations last quarter with EPS $1.71 vs. $1.67 est and revenue of $3.14 billion (vs. $2.51B est), with revenue up 7.8% year‑over‑year; analysts’ consensus is a Buy with an average target of $193.80.
• Insiders sold a total of 348,418 shares (~$54.2 million) in the past three months (insiders now own 0.84%), and the company pays a quarterly dividend of $0.52 (annualized $2.08, ~1.3% yield).

Lbp Am Sa bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 44,699 shares of the financial services provider's stock, valued at approximately $7,239,000.

A number of other institutional investors also recently modified their holdings of ICE. State Street Corp grew its holdings in shares of Intercontinental Exchange by 0.8% during the third quarter. State Street Corp now owns 24,816,744 shares of the financial services provider's stock worth $4,181,125,000 after buying an additional 194,325 shares in the last quarter. Wellington Management Group LLP lifted its stake in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider's stock valued at $1,744,480,000 after acquiring an additional 4,067,922 shares in the last quarter. Capital World Investors boosted its position in Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider's stock worth $1,184,238,000 after acquiring an additional 928,047 shares during the last quarter. Sands Capital Management LLC boosted its position in Intercontinental Exchange by 6.9% during the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider's stock worth $956,506,000 after acquiring an additional 364,227 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of Intercontinental Exchange by 3.1% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,967,071 shares of the financial services provider's stock worth $836,852,000 after acquiring an additional 148,923 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $163.53 on Friday. The stock has a market capitalization of $92.63 billion, a PE ratio of 28.34, a P/E/G ratio of 1.75 and a beta of 1.03. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The firm has a fifty day simple moving average of $160.00 and a 200 day simple moving average of $160.24. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 earnings per share. On average, research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange's dividend payout ratio is presently 36.05%.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider owned 14,266 shares in the company, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares in the company, valued at approximately $7,805,322. This trade represents a 8.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 348,418 shares of company stock worth $54,196,631 in the last three months. Insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ICE shares. Keefe, Bruyette & Woods initiated coverage on shares of Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price objective for the company in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Intercontinental Exchange has an average rating of "Buy" and an average target price of $193.80.

Intercontinental Exchange Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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