PGGM Investments Acquires 13,468 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

PGGM Investments increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 196.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,331 shares of the financial services provider’s stock after purchasing an additional 13,468 shares during the quarter. PGGM Investments’ holdings in Intercontinental Exchange were worth $3,030,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Advisors LLC grew its position in shares of Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after buying an additional 66 shares during the last quarter. Commons Capital LLC grew its holdings in Intercontinental Exchange by 1.2% in the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 69 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Intercontinental Exchange by 2.2% during the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 70 shares in the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Intercontinental Exchange by 3.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Intercontinental Exchange by 2.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 71 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ICE. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group raised their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $169.06 on Friday. The company has a market capitalization of $97.13 billion, a P/E ratio of 35.37, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $175.41. The business’s 50 day moving average is $161.04 and its two-hundred day moving average is $159.57. 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 released 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 net margin of 23.42% and a return on equity of 12.95%. Analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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. 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 1.14%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Buying and Selling

In related news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,313 shares of company stock worth $11,113,733 in the last 90 days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange 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.