Twinbeech Capital LP Grows Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Twinbeech Capital LP increased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3,304.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 181,133 shares of the financial services provider’s stock after purchasing an additional 175,812 shares during the quarter. Twinbeech Capital LP’s holdings in Intercontinental Exchange were worth $26,991,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ICE. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at approximately $1,196,258,000. Royal Bank of Canada raised its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock valued at $1,359,173,000 after buying an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock valued at $677,465,000 after buying an additional 3,678,384 shares during the period. Raymond James Financial Inc. purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $406,728,000. Finally, Swedbank AB raised its position in 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 valued at $330,171,000 after purchasing an additional 2,123,185 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $176.10 on Monday. The company has a fifty day simple moving average of $167.31 and a two-hundred day simple moving average of $161.26. The company has a market cap of $101.01 billion, a price-to-earnings ratio of 36.84, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44.

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

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Morgan Stanley boosted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. 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 report on Wednesday, April 2nd. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $185.93.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. The trade was a 5.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,368 shares of company stock worth $7,077,789. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.