Kirtland Hills Capital Management LLC Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Kirtland Hills Capital Management LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 14,253 shares of the financial services provider’s stock after purchasing an additional 141 shares during the quarter. Intercontinental Exchange comprises 1.4% of Kirtland Hills Capital Management LLC’s investment portfolio, making the stock its 18th biggest holding. Kirtland Hills Capital Management LLC’s holdings in Intercontinental Exchange were worth $2,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. State Street Corp lifted its stake in shares of Intercontinental Exchange by 1.2% during the 3rd 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 lifted its position in Intercontinental Exchange by 1.5% during the third 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 during the period. FMR LLC lifted its position in Intercontinental Exchange by 44.1% during the third 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 Intercontinental Exchange by 4.0% during the third 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. lifted its holdings in shares of Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after acquiring an additional 390,332 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The transaction 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 stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, 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. Insiders sold a total of 60,368 shares of company stock valued at $9,908,492 over the last three months. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Up 1.7 %

Shares of NYSE ICE opened at $171.25 on Wednesday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $171.61. The firm has a market cap of $98.40 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.11. 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’s 50-day simple moving average is $156.07 and its 200-day simple moving average is $158.46.

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 analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Intercontinental Exchange 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.