Millennium Management LLC increased its position in Intercontinental Exchange Inc (NYSE:ICE) by 153.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,674,867 shares of the financial services provider’s stock after purchasing an additional 2,224,434 shares during the quarter. Intercontinental Exchange makes up about 0.4% of Millennium Management LLC’s investment portfolio, making the stock its 16th largest holding. Millennium Management LLC owned about 0.65% of Intercontinental Exchange worth $276,828,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its stake in Intercontinental Exchange by 46.4% during the third quarter. Commonwealth Equity Services LLC now owns 18,570 shares of the financial services provider’s stock valued at $1,390,000 after buying an additional 5,885 shares during the last quarter. MML Investors Services LLC raised its stake in Intercontinental Exchange by 43.9% during the third quarter. MML Investors Services LLC now owns 12,804 shares of the financial services provider’s stock valued at $959,000 after buying an additional 3,909 shares during the last quarter. CIBC World Markets Inc. raised its stake in Intercontinental Exchange by 17.8% during the third quarter. CIBC World Markets Inc. now owns 28,706 shares of the financial services provider’s stock valued at $2,150,000 after buying an additional 4,336 shares during the last quarter. Credit Suisse AG raised its stake in Intercontinental Exchange by 6.0% during the third quarter. Credit Suisse AG now owns 925,846 shares of the financial services provider’s stock valued at $69,337,000 after buying an additional 52,717 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. raised its stake in Intercontinental Exchange by 1.3% during the third quarter. Menora Mivtachim Holdings LTD. now owns 813,745 shares of the financial services provider’s stock valued at $60,941,000 after buying an additional 10,470 shares during the last quarter. Institutional investors own 90.01% of the company’s stock.
Shares of Intercontinental Exchange stock traded up $0.49 on Monday, reaching $73.25. The company’s stock had a trading volume of 38,567 shares, compared to its average volume of 2,938,067. The firm has a market cap of $41.36 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.01 and a beta of 0.48. Intercontinental Exchange Inc has a 52 week low of $67.70 and a 52 week high of $82.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, September 13th. Intercontinental Exchange’s payout ratio is currently 30.64%.
In related news, Vice Chairman Charles A. Vice sold 35,000 shares of Intercontinental Exchange stock in a transaction on Friday, January 4th. The stock was sold at an average price of $75.26, for a total value of $2,634,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James W. Namkung sold 1,307 shares of Intercontinental Exchange stock in a transaction on Monday, March 18th. The stock was sold at an average price of $74.84, for a total value of $97,815.88. The disclosure for this sale can be found here. Insiders sold 196,163 shares of company stock valued at $14,791,398 in the last ninety days. 1.50% of the stock is currently owned by corporate insiders.
ICE has been the subject of a number of recent research reports. Goldman Sachs Group cut Intercontinental Exchange from a “conviction-buy” rating to a “buy” rating in a research note on Friday, January 4th. Zacks Investment Research upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a research note on Friday, November 30th. Citigroup raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 target price for the company in a report on Tuesday, January 22nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $85.50 target price on shares of Intercontinental Exchange in a report on Monday, February 11th. Finally, Deutsche Bank reduced their target price on Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating for the company in a report on Friday, March 15th. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $85.55.
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About Intercontinental Exchange
Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.
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