First Manhattan CO. LLC. Raises Position in Intercontinental Exchange, Inc. (NYSE:ICE)

First Manhattan CO. LLC. boosted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,827 shares of the financial services provider's stock after purchasing an additional 123,268 shares during the quarter. First Manhattan CO. LLC. owned about 0.20% of Intercontinental Exchange worth $170,812,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock worth $5,647,000 after acquiring an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock worth $11,022,000 after acquiring an additional 4,787 shares in the last quarter. Avantra Family Wealth Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth about $702,000. Dixon Mitchell Investment Counsel Inc. raised its stake in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after acquiring an additional 61,110 shares in the last quarter. Finally, National Pension Service raised its stake in Intercontinental Exchange by 19.1% during the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after acquiring an additional 198,311 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Morgan Stanley upped their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Barclays upped their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America reduced their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $185.93.

Intercontinental Exchange Stock Up 1.3%

Shares of NYSE ICE traded up $2.26 during mid-day trading on Friday, hitting $178.73. 3,313,509 shares of the stock traded hands, compared to its average volume of 2,952,055. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44. The company has a market cap of $102.52 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.10 and a beta of 1.12. The stock has a fifty day moving average price of $166.93 and a 200-day moving average price of $160.93.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its 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 return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the company posted $1.48 earnings per share. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the company'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 completion of the sale, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the sale, the insider now owns 17,972 shares of the company's stock, valued at approximately $3,001,144.28. This trade represents a 27.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,368 shares of company stock worth $7,077,789 over the last quarter. 1.00% of the stock is currently owned by insiders.

About Intercontinental Exchange

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.