Otter Creek Advisors LLC Boosts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Otter Creek Advisors LLC raised its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 102.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,233 shares of the financial services provider’s stock after purchasing an additional 16,797 shares during the quarter. Intercontinental Exchange makes up 3.4% of Otter Creek Advisors LLC’s investment portfolio, making the stock its 11th largest position. Otter Creek Advisors LLC’s holdings in Intercontinental Exchange were worth $4,952,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Janus Henderson Group PLC increased its stake in Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares in the last quarter. FMR LLC grew its holdings in Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Swedbank AB raised its stake in shares of Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after buying an additional 2,123,185 shares during the last quarter. Two Sigma Advisers LP boosted its position in shares of Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after buying an additional 1,301,200 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after acquiring an additional 390,332 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of a number of research reports. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays increased their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 17,104 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the transaction, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. This represents a 9.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 6,834 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the sale, the insider now owns 17,972 shares in the company, valued at $3,001,144.28. The trade was a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,368 shares of company stock valued at $9,908,492 in the last quarter. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.3 %

Shares of ICE opened at $170.74 on Thursday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $172.63. The stock has a 50-day moving average price of $156.50 and a 200 day moving average price of $158.54. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $98.10 billion, a P/E ratio of 35.72, a P/E/G ratio of 2.10 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.