Fiduciary Trust Co Has $3.32 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Fiduciary Trust Co increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 21.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 22,254 shares of the financial services provider’s stock after buying an additional 3,975 shares during the period. Fiduciary Trust Co’s holdings in Intercontinental Exchange were worth $3,316,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $1,196,258,000. Kovitz Investment Group Partners LLC grew its stake in Intercontinental Exchange by 423.8% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after buying an additional 3,678,384 shares in the last quarter. Raymond James Financial Inc. bought a new position in Intercontinental Exchange in the 4th quarter valued at about $406,728,000. Swedbank AB raised its position in shares of Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after buying an additional 2,123,185 shares in the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in shares of 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 acquiring an additional 1,574,386 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction 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 transaction, the president now owns 160,059 shares in the company, valued at $26,627,415.24. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction 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 approximately $3,001,144.28. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,368 shares of company stock valued at $7,077,789. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 1.3 %

NYSE:ICE opened at $178.73 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week 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 firm’s fifty day moving average is $166.93 and its 200-day moving average is $161.00. The firm has a market cap of $102.52 billion, a P/E ratio of 37.39, a P/E/G ratio of 2.10 and a beta of 1.12.

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

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 1.07%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Bank of America reduced their price objective 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. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.