Intercontinental Exchange Inc. $ICE Shares Purchased by Global X Japan Co. Ltd.

Key Points

• Global X Japan Co. Ltd. increased its stake in Intercontinental Exchange by 385.2%, adding 21,010 shares to hold 26,465 shares worth about $4.29 million at quarter end.
• Insiders have been net sellers recently — CFO Warren Gardiner and President Benjamin Jackson sold shares on Feb. 19, and insiders disposed of 348,418 shares valued at roughly $54.20 million over the past 90 days.
• ICE beat Q4 estimates with EPS of $1.71 (vs. $1.67 est.) and revenue of $3.14 billion, and analysts maintain a consensus Buy rating with a price target near $194.73.

Global X Japan Co. Ltd. increased its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 385.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,465 shares of the financial services provider's stock after purchasing an additional 21,010 shares during the quarter. Global X Japan Co. Ltd.'s holdings in Intercontinental Exchange were worth $4,286,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Dynasty Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth approximately $897,000. Rockland Trust Co. boosted its stake in shares of Intercontinental Exchange by 19.7% during the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider's stock valued at $21,507,000 after buying an additional 20,981 shares during the period. Fifth Third Wealth Advisors LLC grew its holdings in shares of Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider's stock valued at $2,008,000 after acquiring an additional 3,261 shares in the last quarter. Eastern Bank raised its holdings in shares of Intercontinental Exchange by 14.6% during the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider's stock worth $34,325,000 after acquiring an additional 25,980 shares in the last quarter. Finally, M&G PLC boosted its position in Intercontinental Exchange by 18.4% during the third quarter. M&G PLC now owns 107,070 shares of the financial services provider's stock valued at $17,988,000 after purchasing an additional 16,635 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the transaction, the chief financial officer directly owned 27,679 shares in the company, valued at $4,262,566. This represents a 8.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 3,865 shares of the business's stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the completion of the sale, the president owned 165,304 shares in the company, valued at $25,412,183.92. This represents a 2.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 348,418 shares of company stock valued at $54,196,631. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ICE shares. 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 report on Friday, February 6th. Raymond James Financial restated a "strong-buy" rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target on the stock in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $194.73.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $155.91 on Friday. The company has a market capitalization of $88.54 billion, a P/E ratio of 27.02, a P/E/G ratio of 1.69 and a beta of 1.03. 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 Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The stock has a 50 day moving average of $162.95 and a two-hundred day moving average of $161.20.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating 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 business's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.52 EPS. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

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

About Intercontinental Exchange

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.