Prana Capital Management LP Purchases 288,159 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Prana Capital Management LP lifted its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 74.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 673,729 shares of the financial services provider’s stock after acquiring an additional 288,159 shares during the period. Intercontinental Exchange accounts for approximately 4.8% of Prana Capital Management LP’s investment portfolio, making the stock its 7th biggest holding. Prana Capital Management LP owned about 0.12% of Intercontinental Exchange worth $100,392,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $1,196,258,000. Kovitz Investment Group Partners LLC grew its position in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the period. Raymond James Financial Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $406,728,000. Swedbank AB grew its position in Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares during the period. Finally, AMF Tjanstepension AB grew its position in Intercontinental Exchange by 1,237.7% during the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after purchasing an additional 1,574,386 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $171.04 on Thursday. Intercontinental Exchange, Inc. has a one year low of $131.79 and a one year high of $179.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $98.11 billion, a PE ratio of 35.78, a P/E/G ratio of 2.10 and a beta of 1.12. The stock has a 50 day moving average price of $167.04 and a 200 day moving average price of $161.14.

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

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the sale, the insider now owns 17,972 shares in the company, valued at approximately $3,001,144.28. This trade represents a 27.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total transaction of $1,314,244.00. Following the completion of the sale, the president now owns 160,059 shares of the company’s stock, valued at $26,627,415.24. This trade represents a 4.70% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,368 shares of company stock worth $7,077,789. Insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Bank of America dropped their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.93.

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.