Intercontinental Exchange, Inc. (NYSE:ICE) Shares Acquired by Otter Creek Advisors LLC

Otter Creek Advisors LLC increased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 102.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,233 shares of the financial services provider’s stock after acquiring an additional 16,797 shares during the quarter. Intercontinental Exchange comprises 3.4% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 11th biggest position. Otter Creek Advisors LLC’s holdings in Intercontinental Exchange were worth $4,952,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. AMF Tjanstepension AB grew its holdings in shares of Intercontinental Exchange by 14.5% in the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock valued at $20,441,000 after purchasing an additional 16,130 shares during the period. International Assets Investment Management LLC grew its stake in shares of Intercontinental Exchange by 21,404.8% in the 3rd quarter. International Assets Investment Management LLC now owns 39,999 shares of the financial services provider’s stock valued at $6,425,000 after buying an additional 39,813 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Intercontinental Exchange by 49.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 34,785 shares of the financial services provider’s stock worth $5,588,000 after buying an additional 11,498 shares during the last quarter. abrdn plc raised its position in shares of Intercontinental Exchange by 6.8% during the 3rd quarter. abrdn plc now owns 578,634 shares of the financial services provider’s stock valued at $92,622,000 after buying an additional 36,703 shares during the period. Finally, Integrated Advisors Network LLC grew its position in Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This represents a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,368 shares of company stock valued at $9,908,492 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 0.3 %

Shares of Intercontinental Exchange stock opened at $170.74 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of $156.50 and a 200-day simple moving average of $158.54. The stock has a market cap of $98.10 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $172.63.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results 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 net margin of 23.42% and a return on equity of 12.95%. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.12%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ICE. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays boosted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has an average 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.