Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,036 shares of the financial services provider’s stock after buying an additional 3,907 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Intercontinental Exchange were worth $9,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its holdings in Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $26,000. Financial Management Professionals Inc. lifted its stake in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after buying an additional 87 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange in the 3rd quarter worth about $29,000. Finally, FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of several research reports. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their target price 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. UBS Group boosted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the transaction, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,795 shares of company stock valued at $2,120,572. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.4 %

Shares of Intercontinental Exchange stock opened at $166.95 on Friday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.75. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $95.86 billion, a price-to-earnings ratio of 39.56, a PEG ratio of 3.06 and a beta of 1.11. The stock has a 50 day moving average of $153.23 and a 200 day moving average of $156.81.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 21.31% and a return on equity of 12.75%. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is currently 40.17%.

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.