Everence Capital Management Inc. Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Everence Capital Management Inc. lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 49.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,370 shares of the financial services provider’s stock after selling 16,081 shares during the quarter. Everence Capital Management Inc.’s holdings in Intercontinental Exchange were worth $2,102,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in Intercontinental Exchange by 27.3% during the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after acquiring an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after buying an additional 8,320 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Intercontinental Exchange by 9.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after buying an additional 105,042 shares in the last quarter. First County Bank CT increased its position in Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after buying an additional 100 shares in the last quarter. Finally, CIC Wealth LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $221,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $129.89 on Wednesday. The stock has a 50 day moving average of $136.37 and a 200 day moving average of $124.17. Intercontinental Exchange, Inc. has a 12 month low of $103.81 and a 12 month high of $140.43. The firm has a market cap of $74.37 billion, a PE ratio of 30.93, a PEG ratio of 2.07 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 24.5% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.39%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

Insider Activity

In related news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, President Benjamin Jackson sold 27,970 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the sale, the president now directly owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the stock in a transaction dated Monday, March 4th. The stock was bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. Insiders sold 157,491 shares of company stock valued at $21,454,204 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Citigroup upped their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Barclays upped their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. UBS Group upped their price objective on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Morgan Stanley upped their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Finally, Raymond James upped their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $147.08.

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.