Horizon Investments LLC Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Horizon Investments LLC increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,032 shares of the financial services provider’s stock after buying an additional 231 shares during the period. Horizon Investments LLC’s holdings in Intercontinental Exchange were worth $1,644,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the third quarter valued at $31,000. BankPlus Trust Department purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $40,000. Golden State Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $51,000. Finally, Hanson & Doremus Investment Management purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $55,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.4 %

Shares of ICE stock opened at $173.59 on Thursday. The company has a market capitalization of $99.74 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The company’s fifty day moving average price is $163.08 and its 200-day moving average price is $159.89. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $175.41.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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 net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.11%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 over the last 90 days. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ICE. Barclays lifted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

About Intercontinental Exchange

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.