Ramirez Asset Management Inc. Purchases 1,100 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Ramirez Asset Management Inc. lifted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 21.9% in the fourth quarter, HoldingsChannel reports. The fund owned 6,117 shares of the financial services provider’s stock after buying an additional 1,100 shares during the period. Ramirez Asset Management Inc.’s holdings in Intercontinental Exchange were worth $911,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Level Four Advisory Services LLC grew its position in Intercontinental Exchange by 4.3% during the 4th quarter. Level Four Advisory Services LLC now owns 50,618 shares of the financial services provider’s stock valued at $7,543,000 after purchasing an additional 2,083 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Intercontinental Exchange by 4.2% during the 4th quarter. Orion Portfolio Solutions LLC now owns 43,231 shares of the financial services provider’s stock worth $6,442,000 after purchasing an additional 1,748 shares during the period. Pictet Asset Management Holding SA boosted its position in Intercontinental Exchange by 15.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 377,280 shares of the financial services provider’s stock valued at $56,218,000 after buying an additional 49,221 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Intercontinental Exchange by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 173,720 shares of the financial services provider’s stock valued at $25,886,000 after purchasing an additional 4,450 shares in the last quarter. Finally, Broadway Wealth Solutions Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $301,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction dated 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was 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 owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,563 shares of company stock valued at $10,998,990. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICE shares. Barclays boosted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target 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. UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Price Performance

ICE stock opened at $176.56 on Friday. The firm has a market cap of $101.44 billion, a P/E ratio of 36.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The stock has a 50-day simple moving average of $166.61 and a 200-day simple moving average of $160.48.

Intercontinental Exchange (NYSE:ICE) last announced its 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, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

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.