ING Groep NV Makes New $3.87 Million Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

ING Groep NV acquired a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 25,950 shares of the financial services provider’s stock, valued at approximately $3,867,000.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares during the period. FMR LLC grew its position in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC increased its stake in shares of Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the period. Finally, Franklin Resources Inc. raised its holdings 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 acquiring an additional 390,332 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.7 %

Intercontinental Exchange stock opened at $168.04 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $169.78. The company has a market capitalization of $96.55 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11. The business’s fifty day simple moving average is $155.42 and its two-hundred day simple moving average is $158.18. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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%. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 1.14%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 37.66%.

Insider Buying and Selling

In related news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 10,580 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,196 shares of company stock worth $10,840,972 in the last three months. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. Barclays lifted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. UBS Group increased their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased 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. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $178.80.

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.