Twinbeech Capital LP Raises Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Twinbeech Capital LP increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3,304.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 181,133 shares of the financial services provider’s stock after acquiring an additional 175,812 shares during the period. Twinbeech Capital LP’s holdings in Intercontinental Exchange were worth $26,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Advisors LLC raised its stake in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after buying an additional 66 shares during the last quarter. Commons Capital LLC raised its stake in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after buying an additional 69 shares during the last quarter. Clear Harbor Asset Management LLC raised its stake in shares of Intercontinental Exchange by 3.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after buying an additional 70 shares during the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Intercontinental Exchange by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after buying an additional 71 shares during the last quarter. Finally, Quadcap Wealth Management LLC raised its stake in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock valued at $918,000 after buying an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ICE. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. 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. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Finally, 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.93.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 6,834 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the transaction, the insider now directly owns 17,972 shares in the company, valued at $3,001,144.28. The trade was a 27.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This represents a 9.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Intercontinental Exchange Trading Up 0.7%

ICE stock opened at $176.10 on Monday. 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 12-month low of $131.79 and a 12-month high of $179.44. The stock has a market cap of $101.01 billion, a price-to-earnings ratio of 36.84, a PEG ratio of 2.10 and a beta of 1.12. The business’s 50-day moving average is $167.31 and its 200 day moving average is $161.26.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $1.48 EPS. Intercontinental Exchange’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate 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. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.09%. Intercontinental Exchange’s payout ratio is 39.75%.

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.