Renaissance Technologies LLC Has $79.15 Million Stake in Intercontinental Exchange Inc (ICE)
Renaissance Technologies LLC lifted its stake in Intercontinental Exchange Inc (NYSE:ICE) by 90.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,121,790 shares of the financial services provider’s stock after purchasing an additional 533,100 shares during the period. Renaissance Technologies LLC’s holdings in Intercontinental Exchange were worth $79,154,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $109,000. Valeo Financial Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 257.6% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock worth $115,000 after acquiring an additional 1,172 shares during the period. SeaCrest Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth $122,000. Cerebellum GP LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at $127,000. Finally, Americafirst Capital Management LLC bought a new stake in Intercontinental Exchange during the third quarter valued at $145,000. 89.72% of the stock is owned by hedge funds and other institutional investors.
Shares of Intercontinental Exchange Inc (ICE) opened at $75.73 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange Inc has a 52 week low of $57.91 and a 52 week high of $76.14. The stock has a market capitalization of $44,097.13, a PE ratio of 25.76, a price-to-earnings-growth ratio of 2.66 and a beta of 0.65.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 18.87%.
In other Intercontinental Exchange news, President Benjamin Jackson sold 2,500 shares of Intercontinental Exchange stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $72.75, for a total transaction of $181,875.00. Following the completion of the sale, the president now owns 64,154 shares of the company’s stock, valued at $4,667,203.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dean S. Mathison sold 2,570 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $69.77, for a total value of $179,308.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 186,201 shares of company stock valued at $13,690,343. Corporate insiders own 1.50% of the company’s stock.
Several equities research analysts recently issued reports on ICE shares. Argus lifted their price objective on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a research note on Wednesday, January 3rd. Berenberg Bank started coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They set a “buy” rating and a $90.00 price objective for the company. Bank of America dropped their price objective on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $76.00 to $83.00 in a research note on Tuesday, February 20th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Intercontinental Exchange presently has a consensus rating of “Buy” and a consensus price target of $76.62.
TRADEMARK VIOLATION NOTICE: “Renaissance Technologies LLC Has $79.15 Million Stake in Intercontinental Exchange Inc (ICE)” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another site, it was stolen and republished in violation of international trademark and copyright legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2018/03/11/renaissance-technologies-llc-has-79-15-million-stake-in-intercontinental-exchange-inc-ice.html.
Intercontinental Exchange Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.