Russell Investments Group Ltd. Buys 39,631 Shares of Intercontinental Exchange Inc. $ICE

Russell Investments Group Ltd. lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 6.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 698,696 shares of the financial services provider’s stock after purchasing an additional 39,631 shares during the quarter. Russell Investments Group Ltd. owned about 0.12% of Intercontinental Exchange worth $117,692,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. ICONIQ Capital LLC lifted its position in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock worth $481,000 after buying an additional 56 shares during the last quarter. SBI Securities Co. Ltd. increased its position in Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 58 shares during the last quarter. Cascade Investment Advisors Inc. increased its position in Intercontinental Exchange by 0.5% during the third quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider’s stock valued at $2,319,000 after acquiring an additional 65 shares during the last quarter. Private Wealth Management Group LLC raised its stake in shares of Intercontinental Exchange by 59.5% in the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 66 shares during the period. Finally, Ipswich Investment Management Co. Inc. raised its stake in shares of Intercontinental Exchange by 3.2% in the third quarter. Ipswich Investment Management Co. Inc. now owns 2,248 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 70 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ICE shares. Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research report on Friday. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $194.73.

Intercontinental Exchange Trading Down 0.2%

NYSE ICE opened at $165.87 on Tuesday. The stock has a market cap of $94.19 billion, a PE ratio of 28.75, a PEG ratio of 1.73 and a beta of 1.04. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company’s 50-day moving average price is $164.77 and its 200-day moving average price is $162.68. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analyst estimates of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. Equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 33.28%.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the completion of the sale, the chief financial officer owned 27,679 shares in the company, valued at approximately $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 350,018 shares of company stock valued at $54,457,751 in the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.