First Manhattan CO. LLC. Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

First Manhattan CO. LLC. raised its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,144,827 shares of the financial services provider’s stock after buying an additional 123,268 shares during the period. First Manhattan CO. LLC. owned about 0.20% of Intercontinental Exchange worth $170,812,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Strategic Advisors LLC lifted its position in Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 66 shares during the last quarter. Commons Capital LLC increased its position in shares of Intercontinental Exchange by 1.2% in the 4th 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 Intercontinental Exchange by 2.2% in the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after buying an additional 70 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Intercontinental Exchange by 3.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 70 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its position in shares of Intercontinental Exchange by 2.3% during the fourth 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 during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $176.45 on Friday. 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, Inc. has a 1 year low of $131.79 and a 1 year high of $178.80. The stock has a fifty day moving average price of $166.76 and a 200 day moving average price of $160.91. The stock has a market cap of $101.37 billion, a price-to-earnings ratio of 36.91, a PEG ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.09%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the sale, the president now owns 160,059 shares in the company, valued at approximately $26,627,415.24. This represents a 4.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,368 shares of company stock valued at $7,077,789 over the last 90 days. 1.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on ICE. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. decreased their target price on shares of 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 equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.93.

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.