Mn Services Vermogensbeheer B.V. Purchases 6,438 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Mn Services Vermogensbeheer B.V. increased its stake in Intercontinental Exchange by 3.0% in Q4, buying 6,438 shares to hold 223,638 shares valued at about $36.22 million.
• Insider selling has been notable recently: insiders disposed of 348,418 shares worth $54.2 million over the last 90 days (including sales by President Benjamin Jackson and Christopher Edmonds), leaving insiders with roughly 1.0% ownership.
• Fundamentals and analyst sentiment: ICE topped Q4 estimates (EPS $1.71 vs. $1.67; revenue $3.14B), pays a $0.52 quarterly dividend (1.3% yield), and holds an average analyst rating of "Buy" with a $194.73 consensus price target.

Mn Services Vermogensbeheer B.V. raised its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 223,638 shares of the financial services provider's stock after buying an additional 6,438 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Intercontinental Exchange were worth $36,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Dynasty Wealth Management LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at $897,000. Rockland Trust Co. increased its position 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 purchasing an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake 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 worth $2,008,000 after purchasing an additional 3,261 shares during the period. Eastern Bank raised its stake in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider's stock worth $34,325,000 after purchasing an additional 25,980 shares during the period. Finally, M&G PLC boosted its holdings in shares of Intercontinental Exchange by 18.4% in the 3rd quarter. M&G PLC now owns 107,070 shares of the financial services provider's stock worth $17,988,000 after buying an additional 16,635 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 12,861 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the sale, the president owned 165,692 shares in the company, valued at $27,339,180. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the transaction, the insider directly owned 14,266 shares of the company's stock, valued at $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 348,418 shares of company stock worth $54,196,631 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 2.8%

Shares of Intercontinental Exchange stock opened at $156.90 on Tuesday. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The stock's 50-day simple moving average is $162.17 and its 200 day simple moving average is $160.75. The stock has a market capitalization of $89.10 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.65 and a beta of 1.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion during 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% on a year-over-year basis. During the same quarter last year, the business earned $1.52 earnings per share. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued 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 dividend payout ratio (DPR) is 36.05%.

Analysts Set New Price Targets

ICE has been the subject of several research reports. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 price target for the company in a research report on Friday, March 6th. Barclays set a $193.00 target price on shares of Intercontinental Exchange and gave the company an "overweight" rating in a research note on Friday, February 6th. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the company an "equal weight" rating in a research report on Tuesday, February 10th. UBS Group restated a "buy" rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Monday, February 9th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intercontinental Exchange in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of "Buy" and a consensus price target of $194.73.

Intercontinental Exchange Company 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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