Mill Creek Capital Advisors LLC Makes New Investment in Intercontinental Exchange, Inc. (NYSE:ICE)

Mill Creek Capital Advisors LLC acquired a new stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,396 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other large investors have also modified their holdings of the company. State Street Corp lifted its stake in Intercontinental Exchange by 1.2% during the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after purchasing an additional 281,503 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares in the last quarter. FMR LLC lifted its position in shares of Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the period. Parnassus Investments LLC lifted its position in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after buying an additional 299,037 shares during the period. Finally, Franklin Resources Inc. grew its position in Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after acquiring an additional 390,332 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated 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 owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,358 shares of company stock worth $5,535,650 in the last quarter. 1.10% of the stock is owned by company insiders.

Analyst Ratings Changes

ICE has been the subject of a number of analyst reports. Barclays lifted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Down 0.1 %

NYSE:ICE opened at $166.96 on Wednesday. The stock’s fifty day moving average price is $153.53 and its two-hundred day moving average price is $157.19. The company has a market cap of $95.93 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 3.21 and a beta of 1.11. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $169.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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, analysts anticipate that Intercontinental Exchange, Inc. will post 6.63 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders 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 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 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.