Cinctive Capital Management LP Raises Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Cinctive Capital Management LP grew its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 47.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,078 shares of the financial services provider’s stock after acquiring an additional 4,232 shares during the period. Cinctive Capital Management LP’s holdings in Intercontinental Exchange were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Bryce Point Capital LLC purchased a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $552,000. Kesler Norman & Wride LLC boosted its position in shares of Intercontinental Exchange by 0.7% during the fourth quarter. Kesler Norman & Wride LLC now owns 51,555 shares of the financial services provider’s stock worth $7,683,000 after acquiring an additional 383 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in Intercontinental Exchange by 0.8% during the fourth quarter. Meeder Advisory Services Inc. now owns 10,254 shares of the financial services provider’s stock valued at $1,528,000 after acquiring an additional 82 shares in the last quarter. Groupama Asset Managment increased its holdings in Intercontinental Exchange by 72.7% in the 4th quarter. Groupama Asset Managment now owns 22,296 shares of the financial services provider’s stock valued at $3,329,000 after acquiring an additional 9,385 shares during the last quarter. Finally, Trexquant Investment LP lifted its stake in Intercontinental Exchange by 4.6% in the 4th quarter. Trexquant Investment LP now owns 104,443 shares of the financial services provider’s stock worth $15,563,000 after purchasing an additional 4,594 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 6,834 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the sale, the insider now owns 17,972 shares in the company, valued at approximately $3,001,144.28. The trade was a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now owns 147,274 shares in the company, valued at $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,563 shares of company stock worth $10,998,990. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $170.43 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $97.92 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $177.45. The company’s 50-day moving average is $168.31 and its 200 day moving average is $160.78.

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

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ICE shares. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted 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. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

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.