Cinctive Capital Management LP Increases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Cinctive Capital Management LP increased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 47.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,078 shares of the financial services provider’s stock after buying an additional 4,232 shares during the period. Cinctive Capital Management LP’s holdings in Intercontinental Exchange were worth $1,949,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $25,000. Lee Danner & Bass Inc. purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange in the fourth quarter worth about $40,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $45,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ICE shares. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays increased their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.47.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Down 0.6 %

ICE stock opened at $170.43 on Thursday. The company has a market capitalization of $97.92 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $177.45. The firm’s fifty day simple moving average is $168.31 and its 200-day simple moving average is $160.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS 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%. As a group, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 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.