Cullen Frost Bankers Inc. Acquires 4,607 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Cullen Frost Bankers Inc. grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,606 shares of the financial services provider’s stock after buying an additional 4,607 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Intercontinental Exchange were worth $17,375,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Farther Finance Advisors LLC increased its stake in shares of Intercontinental Exchange by 21.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,388 shares of the financial services provider’s stock worth $704,000 after purchasing an additional 775 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Intercontinental Exchange by 5.1% during the 3rd quarter. Janney Montgomery Scott LLC now owns 69,407 shares of the financial services provider’s stock worth $11,150,000 after purchasing an additional 3,381 shares during the last quarter. QRG Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 5.8% during the 3rd quarter. QRG Capital Management Inc. now owns 16,661 shares of the financial services provider’s stock worth $2,676,000 after purchasing an additional 911 shares during the last quarter. Catalyst Capital Advisors LLC grew its stake in Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after buying an additional 70 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC grew its stake in Intercontinental Exchange by 6.1% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 2,442 shares of the financial services provider’s stock valued at $392,000 after buying an additional 140 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Up 1.1 %

Shares of NYSE ICE opened at $171.77 on Thursday. 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 $124.34 and a 52-week high of $175.41. The firm has a 50 day moving average price of $158.68 and a two-hundred day moving average price of $159.12. The stock has a market cap of $98.69 billion, a P/E ratio of 35.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the transaction, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,268 shares of company stock worth $11,262,789 over the last three months. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ICE shares. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays increased their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

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.