Kestra Investment Management LLC Buys New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Kestra Investment Management LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 816 shares of the financial services provider’s stock, valued at approximately $122,000.

A number of other large investors have also modified their holdings of the company. State Street Corp raised its stake in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC raised its stake in Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares in the last quarter. FMR LLC raised its stake in Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC raised its stake in Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after acquiring an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after acquiring an additional 390,332 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $167.00 on Friday. The business’s 50-day simple moving average is $155.18 and its 200 day simple moving average is $157.99. The stock has a market cap of $95.95 billion, a price-to-earnings ratio of 34.94, a P/E/G ratio of 2.11 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.78. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.71 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 37.66%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares in the company, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,196 shares of company stock worth $10,840,972 over the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on ICE shares. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $178.80.

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.