Ninety One SA PTY Ltd Invests $514,000 in Intercontinental Exchange Inc. (NYSE:ICE)

Ninety One SA PTY Ltd bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,978 shares of the financial services provider's stock, valued at approximately $514,000.

Several other large investors have also added to or reduced their stakes in ICE. Norges Bank acquired a new stake in Intercontinental Exchange in the fourth quarter valued at $1,196,258,000. Royal Bank of Canada lifted its stake in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Intercontinental Exchange by 423.8% in the fourth 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 period. GAMMA Investing LLC raised its position in shares of Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after purchasing an additional 2,255,507 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Sharon Bowen sold 795 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the sale, the director directly owned 15,000 shares of the company's stock, valued at $2,749,500. The trade was a 5.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 228,749 shares of company stock worth $40,942,387 in the last quarter. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE traded up $0.04 during mid-day trading on Thursday, reaching $182.20. The company had a trading volume of 1,092,309 shares, compared to its average volume of 2,977,097. The company's 50 day simple moving average is $178.11 and its 200 day simple moving average is $167.17. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $183.99. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $104.51 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 1.95 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company posted $1.48 EPS. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. 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 was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.05%. Intercontinental Exchange's payout ratio is currently 39.75%.

Analysts Set New Price Targets

ICE has been the topic of several research analyst reports. Bank of America dropped their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Barclays lifted their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $192.58.

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.