ING Groep NV bought a new position in Intercontinental Exchange Inc (NYSE:ICE) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,159 shares of the financial services provider’s stock, valued at approximately $787,000.

Several other large investors have also recently made changes to their positions in the company. Bank of Nova Scotia raised its position in shares of Intercontinental Exchange by 2.4% in the 2nd quarter. Bank of Nova Scotia now owns 30,186 shares of the financial services provider’s stock worth $1,990,000 after acquiring an additional 710 shares in the last quarter. MAI Capital Management raised its position in shares of Intercontinental Exchange by 1.8% in the 4th quarter. MAI Capital Management now owns 44,903 shares of the financial services provider’s stock worth $3,168,000 after acquiring an additional 783 shares in the last quarter. Commerce Bank raised its position in shares of Intercontinental Exchange by 3.1% in the 3rd quarter. Commerce Bank now owns 27,381 shares of the financial services provider’s stock worth $1,881,000 after acquiring an additional 829 shares in the last quarter. Global X MANAGEMENT CO LLC raised its position in shares of Intercontinental Exchange by 7.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 12,234 shares of the financial services provider’s stock worth $840,000 after acquiring an additional 841 shares in the last quarter. Finally, Synovus Financial Corp raised its position in shares of Intercontinental Exchange by 10.8% in the 3rd quarter. Synovus Financial Corp now owns 8,922 shares of the financial services provider’s stock worth $613,000 after acquiring an additional 870 shares in the last quarter. 90.30% of the stock is owned by hedge funds and other institutional investors.

Shares of Intercontinental Exchange Inc (NYSE ICE) opened at $71.07 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $40,248.18, a P/E ratio of 23.51, a P/E/G ratio of 2.44 and a beta of 0.66. Intercontinental Exchange Inc has a 52 week low of $56.97 and a 52 week high of $76.14.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a return on equity of 10.83% and a net margin of 43.09%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business posted $0.71 EPS. The firm’s quarterly revenue was up .5% compared to the same quarter last year. analysts forecast that Intercontinental Exchange Inc will post 3.54 earnings per share for the current fiscal year.

Intercontinental Exchange announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 2nd that allows the company to buyback $1.20 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Thursday, September 13th will be paid a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 annualized dividend and a yield of 1.35%. Intercontinental Exchange’s dividend payout ratio is 18.87%.

In other Intercontinental Exchange news, Vice Chairman Charles A. Vice sold 7,500 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $71.93, for a total transaction of $539,475.00. Following the sale, the insider now directly owns 377,471 shares in the company, valued at approximately $27,151,489.03. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Dean S. Mathison sold 2,570 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $69.77, for a total value of $179,308.90. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,910 shares of company stock worth $3,579,672. Company insiders own 1.50% of the company’s stock.

ICE has been the subject of several research reports. Argus increased their target price on Intercontinental Exchange from $72.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 target price for the company in a research report on Wednesday, January 3rd. UBS Group upped their price target on Intercontinental Exchange from $73.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Citigroup upped their price target on Intercontinental Exchange from $75.00 to $77.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Berenberg Bank initiated coverage on Intercontinental Exchange in a research note on Thursday, January 25th. They issued a “buy” rating and a $90.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $76.08.

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About Intercontinental Exchange

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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