Los Angeles Capital Management LLC Buys 57,635 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Los Angeles Capital Management LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 392.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,304 shares of the financial services provider’s stock after purchasing an additional 57,635 shares during the period. Los Angeles Capital Management LLC’s holdings in Intercontinental Exchange were worth $10,774,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its position 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 buying an additional 281,503 shares during the period. Geode Capital Management LLC boosted its stake in Intercontinental Exchange by 1.5% during 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 acquiring an additional 169,922 shares during the last quarter. FMR LLC boosted its stake in 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 acquiring an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC increased its stake in Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake 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 purchasing an additional 390,332 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $170.74 on Thursday. The stock has a market capitalization of $98.10 billion, a price-to-earnings ratio of 35.72, a PEG ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $172.63. The firm has a fifty day simple moving average of $156.50 and a 200 day simple moving average of $158.54. 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 (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 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%. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the transaction, the president now owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 60,368 shares of company stock valued at $9,908,492 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of recent analyst reports. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. 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. Finally, Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

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.