South Dakota Investment Council Invests $1.58 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

South Dakota Investment Council bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 10,611 shares of the financial services provider’s stock, valued at approximately $1,581,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. raised its position in shares of Intercontinental Exchange by 106.1% in the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 87 shares during the period. Sierra Ocean LLC acquired a new position in Intercontinental Exchange in the 4th quarter worth about $25,000. Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange during the third quarter worth approximately $29,000. FSA Wealth Management LLC purchased a new position in Intercontinental Exchange during the third quarter worth approximately $31,000. Finally, Planning Capital Management Corp grew its holdings in Intercontinental Exchange by 96.7% in the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 147 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ICE shares. Barclays increased their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $168.04 on Monday. 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 business’s 50 day moving average price is $155.42 and its 200 day moving average price is $158.23. The company has a market cap of $96.55 billion, a price-to-earnings ratio of 35.15, a PEG ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $169.78.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.14%. Intercontinental Exchange’s dividend payout ratio (DPR) is 37.66%.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,368 shares of company stock worth $9,908,492 in the last 90 days. Insiders own 1.10% of the company’s stock.

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.