NEOS Investment Management LLC Boosts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

NEOS Investment Management LLC grew its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 37.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,348 shares of the financial services provider’s stock after acquiring an additional 10,767 shares during the quarter. NEOS Investment Management LLC’s holdings in Intercontinental Exchange were worth $5,863,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ICE. Sierra Ocean LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. FSA Wealth Management LLC acquired a new position in Intercontinental Exchange during the third quarter worth about $31,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $34,000. BankPlus Trust Department acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $45,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE stock opened at $176.56 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The firm has a market capitalization of $101.44 billion, a P/E ratio of 36.94, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The business’s 50-day moving average is $166.61 and its two-hundred day moving average is $160.48.

Intercontinental Exchange (NYSE:ICE) last issued 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%. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of analyst reports. Barclays upped their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 7,900 shares of the stock in a transaction dated 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 transaction, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock valued at $10,998,990 over the last quarter. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Company 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.