Arrowstreet Capital Limited Partnership Reduces Stock Position in Intercontinental Exchange Inc. $ICE

Arrowstreet Capital Limited Partnership decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 13.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,415,941 shares of the financial services provider’s stock after selling 365,601 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.42% of Intercontinental Exchange worth $407,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank bought a new stake in Intercontinental Exchange during the 2nd quarter valued at about $1,542,780,000. Sands Capital Management LLC grew its stake in Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after acquiring an additional 1,586,620 shares during the period. Waverton Investment Management Ltd increased its position in shares of Intercontinental Exchange by 28,886.8% during the third quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock worth $257,163,000 after acquiring an additional 1,521,467 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Intercontinental Exchange by 503.7% during the third quarter. Assenagon Asset Management S.A. now owns 1,133,892 shares of the financial services provider’s stock valued at $191,038,000 after acquiring an additional 946,065 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on ICE. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a report on Friday, March 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Finally, Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $194.73.

Intercontinental Exchange Stock Up 1.0%

Intercontinental Exchange stock opened at $158.57 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The firm has a market cap of $90.05 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.70 and a beta of 1.03. The business has a fifty day moving average of $164.54 and a two-hundred day moving average of $162.47. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

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

Intercontinental Exchange Announces Dividend

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

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 12,861 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the transaction, the president owned 165,692 shares of the company’s stock, valued at $27,339,180. The trade was a 7.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the sale, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,055,992.38. The trade was a 19.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,418 shares of company stock valued at $54,196,631 in the last three months. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Company 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.