State of Alaska Department of Revenue Has $9.75 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

State of Alaska Department of Revenue lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,451 shares of the financial services provider’s stock after selling 1,245 shares during the period. State of Alaska Department of Revenue’s holdings in Intercontinental Exchange were worth $9,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC lifted its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth approximately $26,000. Financial Management Professionals Inc. boosted its holdings in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 87 shares during the period. Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange during the third quarter valued at approximately $29,000. Finally, FSA Wealth Management LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Morgan Stanley boosted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Barclays reduced their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus price target of $175.27.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $167.37 on Friday. The company has a market capitalization of $96.10 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $169.75. The company’s fifty day moving average price is $153.11 and its 200 day moving average price is $156.74.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. As a group, analysts expect that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.48 per share. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.45. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 42.65%.

About Intercontinental Exchange

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.