Bristlecone Advisors LLC Acquires 347 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Bristlecone Advisors LLC raised its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,566 shares of the financial services provider’s stock after purchasing an additional 347 shares during the quarter. Bristlecone Advisors LLC’s holdings in Intercontinental Exchange were worth $978,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB raised 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 acquiring an additional 16,130 shares in the last quarter. Brookstone Capital Management bought a new stake in shares of Intercontinental Exchange in the third quarter valued at about $212,000. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Intercontinental Exchange by 297.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,198 shares of the financial services provider’s stock valued at $674,000 after acquiring an additional 3,141 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in shares of Intercontinental Exchange by 5.6% in the third quarter. Valeo Financial Advisors LLC now owns 6,684 shares of the financial services provider’s stock valued at $1,074,000 after acquiring an additional 355 shares in the last quarter. Finally, Carnegie Investment Counsel raised its holdings in shares of Intercontinental Exchange by 0.7% in the third quarter. Carnegie Investment Counsel now owns 14,351 shares of the financial services provider’s stock valued at $2,305,000 after acquiring an additional 106 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Lynn C. Martin sold 4,155 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $165.60, for a total transaction of $688,068.00. Following the completion of the sale, the insider now owns 57,376 shares of the company’s stock, valued at $9,501,465.60. The trade was a 6.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the completion of the transaction, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock valued at $5,535,650 over the last quarter. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ICE. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley lifted their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $167.28 on Tuesday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.75. The firm has a market capitalization of $96.05 billion, a price-to-earnings ratio of 35.00, a PEG ratio of 3.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99. The stock’s 50-day simple moving average is $153.35 and its 200-day simple moving average is $157.06.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.