Premier Fund Managers Ltd Has $8.44 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Premier Fund Managers Ltd decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 88.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,481 shares of the financial services provider’s stock after selling 427,140 shares during the period. Premier Fund Managers Ltd’s holdings in Intercontinental Exchange were worth $8,436,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after buying an additional 538,670 shares during the period. State Street Corp boosted its holdings in shares of Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the last quarter. Norges Bank bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $1,196,258,000. Finally, Franklin Resources Inc. lifted its position in shares of Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the topic of a number of research reports. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Price Performance

ICE opened at $176.56 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. 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 stock has a 50-day moving average price of $166.61 and a 200-day moving average price of $160.48. The stock has a market capitalization of $101.44 billion, a P/E ratio of 36.94, a PEG ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced 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%. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred 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 directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 value of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

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.