Meadow Creek Investment Management LLC trimmed its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 425,768 shares of the financial services provider’s stock after selling 20,664 shares during the quarter. Intercontinental Exchange comprises 0.7% of Meadow Creek Investment Management LLC’s portfolio, making the stock its 28th largest position. Meadow Creek Investment Management LLC’s holdings in Intercontinental Exchange were worth $30,042,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Intercontinental Exchange by 6.0% during the 4th quarter. BlackRock Inc. now owns 37,271,704 shares of the financial services provider’s stock worth $2,629,892,000 after purchasing an additional 2,104,818 shares during the period. Janus Henderson Group PLC raised its position in shares of Intercontinental Exchange by 14.6% during the 3rd quarter. Janus Henderson Group PLC now owns 10,373,823 shares of the financial services provider’s stock worth $712,683,000 after purchasing an additional 1,325,290 shares during the period. Capital International Investors increased its position in Intercontinental Exchange by 15.6% in the 3rd quarter. Capital International Investors now owns 8,723,353 shares of the financial services provider’s stock valued at $599,294,000 after acquiring an additional 1,176,185 shares during the period. Bank of New York Mellon Corp increased its position in Intercontinental Exchange by 2.2% in the 4th quarter. Bank of New York Mellon Corp now owns 7,249,668 shares of the financial services provider’s stock valued at $511,534,000 after acquiring an additional 157,093 shares during the period. Finally, Amundi Pioneer Asset Management Inc. increased its position in Intercontinental Exchange by 1.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 6,256,044 shares of the financial services provider’s stock valued at $441,426,000 after acquiring an additional 113,143 shares during the period. Institutional investors and hedge funds own 90.74% of the company’s stock.
Intercontinental Exchange Inc (ICE) opened at $75.06 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $44,062.20, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.65 and a beta of 0.65. Intercontinental Exchange Inc has a one year low of $57.91 and a one year high of $76.30.
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 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is currently 18.87%.
Several research firms recently commented on ICE. Zacks Investment Research cut Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. JPMorgan Chase & Co. upgraded Intercontinental Exchange from a “neutral” rating to an “overweight” rating and raised their target price for the company from $76.00 to $83.00 in a research report on Tuesday, February 20th. Argus restated a “buy” rating and issued a $67.00 target price (down from $80.00) on shares of Intercontinental Exchange in a research report on Friday, February 9th. Bank of America lowered their target price on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a research report on Thursday, February 8th. Finally, Berenberg Bank began coverage on Intercontinental Exchange in a research report on Thursday, January 25th. They issued a “buy” rating and a $90.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Intercontinental Exchange presently has a consensus rating of “Buy” and an average price target of $76.62.
In other Intercontinental Exchange news, insider Dean S. Mathison sold 2,570 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $69.77, for a total transaction of $179,308.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas W. Farley sold 18,046 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $73.97, for a total value of $1,334,862.62. Following the transaction, the insider now directly owns 86,293 shares of the company’s stock, valued at $6,383,093.21. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 186,201 shares of company stock valued at $13,690,343. 1.50% of the stock is currently owned by corporate insiders.
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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.
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