Swiss Life Asset Management Ltd Buys 4,206 Shares of Intercontinental Exchange Inc. $ICE
by Amy Steele · The Cerbat GemSwiss Life Asset Management Ltd increased its stake in Intercontinental Exchange Inc. (NYSE:ICE – Free Report) by 4.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 101,668 shares of the financial services provider’s stock after buying an additional 4,206 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Intercontinental Exchange were worth $17,129,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Dynasty Wealth Management LLC bought a new position in Intercontinental Exchange in the 3rd quarter worth about $897,000. Rockland Trust Co. lifted its holdings in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after purchasing an additional 20,981 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Intercontinental Exchange by 37.7% in the third quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after purchasing an additional 3,261 shares in the last quarter. Eastern Bank increased its holdings in shares of Intercontinental Exchange by 14.6% in the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock valued at $34,325,000 after purchasing an additional 25,980 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in Intercontinental Exchange by 1.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after buying an additional 13,497 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Intercontinental Exchange
In other news, General Counsel Andrew J. Surdykowski sold 4,571 shares of Intercontinental Exchange stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total value of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. The trade was a 8.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last three months. Company insiders own 1.00% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on ICE. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, February 6th. UBS Group reaffirmed a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $194.73.
Read Our Latest Research Report on ICE
Intercontinental Exchange Stock Up 0.8%
Shares of NYSE:ICE opened at $158.37 on Friday. The company has a market capitalization of $89.94 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.70 and a beta of 1.03. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The business has a 50-day moving average price of $164.16 and a 200 day moving average price of $161.83. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.
Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. During the same quarter last year, the firm posted $1.52 earnings per share. Intercontinental Exchange’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.
Intercontinental Exchange Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 36.05%.
Intercontinental Exchange Profile
Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.
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