Meiji Yasuda Asset Management Co Ltd. Has $2.43 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,294 shares of the financial services provider’s stock after selling 13,250 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Intercontinental Exchange were worth $2,428,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC bought a new stake in Intercontinental Exchange in the third quarter valued at $31,000. Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth $34,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at $40,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $45,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.2 %

Shares of NYSE ICE opened at $175.58 on Wednesday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $176.49. The firm’s 50-day moving average is $165.53 and its 200-day moving average is $160.26. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $100.88 billion, a PE ratio of 36.73, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Activity at Intercontinental Exchange

In other news, President Benjamin Jackson sold 17,104 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This represents a 9.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the transaction, the insider now directly owns 17,972 shares in the company, valued at $3,001,144.28. The trade was a 27.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ICE shares. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods increased their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays lifted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price 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 given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.