Raiffeisen Bank International AG Invests $4.69 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Raiffeisen Bank International AG acquired a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 31,380 shares of the financial services provider’s stock, valued at approximately $4,687,000.

Several other large investors have also recently modified their holdings of ICE. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $1,196,258,000. Kovitz Investment Group Partners LLC grew its stake in shares of Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $406,728,000. Swedbank AB grew its stake in shares of Intercontinental Exchange by 2,293.3% in the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares during the last quarter. Finally, AMF Tjanstepension AB grew its stake in shares of Intercontinental Exchange by 1,237.7% in the fourth quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after purchasing an additional 1,574,386 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ICE. UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the transaction, the insider now directly owns 17,972 shares of the company’s stock, valued at approximately $3,001,144.28. This represents a 27.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the transaction, the president now directly owns 160,059 shares in the company, valued at $26,627,415.24. This trade represents a 4.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,368 shares of company stock valued at $7,077,789. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $174.91 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average price is $167.15 and its 200-day moving average price is $161.20. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44. The stock has a market cap of $100.33 billion, a P/E ratio of 36.59, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $1.48 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Intercontinental Exchange Company Profile

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.