BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 14.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 109,939 shares of the financial services provider's stock after buying an additional 14,236 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Intercontinental Exchange were worth $16,382,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after buying an additional 538,670 shares during the period. Geode Capital Management LLC increased its stake in Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after buying an additional 327,637 shares during the period. Royal Bank of Canada increased its stake in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the period. Norges Bank purchased a new stake in Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Finally, Northern Trust Corp increased its stake in Intercontinental Exchange by 9.7% during the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after buying an additional 655,247 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ICE has been the topic of several recent research reports. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $188.46.

Intercontinental Exchange Stock Up 1.3%

NYSE:ICE traded up $2.27 during midday trading on Friday, hitting $176.27. 2,248,069 shares of the company were exchanged, compared to its average volume of 3,006,613. The company has a fifty day simple moving average of $167.76 and a 200 day simple moving average of $161.87. 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 current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $101.11 billion, a PE ratio of 36.88, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12.

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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business earned $1.48 EPS. Intercontinental Exchange's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 yield of 1.09%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the firm's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company's stock, valued at approximately $25,247,181.82. This trade represents a 5.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,082 shares of company stock worth $1,868,802 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

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.