Resona Asset Management Co. Ltd. Acquires New Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Resona Asset Management Co. Ltd. bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 171,069 shares of the financial services provider’s stock, valued at approximately $25,524,000.

Several other hedge funds have also modified their holdings of the company. Norges Bank acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Raymond James Financial Inc. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $406,728,000. Swedbank AB grew its stake in Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after buying an additional 2,123,185 shares during the last quarter. AMF Tjanstepension AB increased its position in Intercontinental Exchange by 1,237.7% during the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock valued at $253,591,000 after buying an additional 1,574,386 shares in the last quarter. Finally, Egerton Capital UK LLP purchased a new stake in Intercontinental Exchange in the fourth quarter valued at about $109,270,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other 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 sale, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday. 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.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Stock Down 6.4 %

ICE stock opened at $156.89 on Friday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s fifty day moving average is $168.49 and its 200 day moving average is $160.78. The firm has a market cap of $90.13 billion, a PE ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09.

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

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given 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 1.22%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

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.