Pinebridge Investments L.P. Increases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Pinebridge Investments L.P. increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 7,300.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,626 shares of the financial services provider’s stock after buying an additional 42,050 shares during the quarter. Pinebridge Investments L.P.’s holdings in Intercontinental Exchange were worth $5,830,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ICE. NuWave Investment Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter valued at $25,000. CVA Family Office LLC raised its position in shares of Intercontinental Exchange by 345.2% during the 4th quarter. CVA Family Office LLC now owns 187 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Curi Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $27,000. Consolidated Planning Corp acquired a new position in shares of Intercontinental Exchange during the 3rd quarter worth about $31,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth about $36,000. 87.36% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:ICE opened at $98.27 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $93.52 and a 12 month high of $139.79. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $54.86 billion, a P/E ratio of 13.65, a P/E/G ratio of 1.85 and a beta of 0.88. The company’s fifty day moving average price is $122.77 and its 200 day moving average price is $128.32.

Intercontinental Exchange (NYSE:ICEGet Rating) last issued its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.01. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.90 billion. Intercontinental Exchange had a net margin of 44.24% and a return on equity of 13.41%. Intercontinental Exchange’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 5.52 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, June 14th. Intercontinental Exchange’s payout ratio is 21.11%.

Several brokerages recently issued reports on ICE. Zacks Investment Research cut shares of Intercontinental Exchange from a “buy” rating to a “hold” rating and set a $137.00 price objective for the company. in a research note on Friday, January 14th. UBS Group dropped their price target on shares of Intercontinental Exchange from $164.00 to $149.00 in a research note on Friday, February 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Intercontinental Exchange from $155.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, April 7th. Rosenblatt Securities lowered their price objective on shares of Intercontinental Exchange from $157.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, April 14th. Finally, Keefe, Bruyette & Woods cut shares of Intercontinental Exchange from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $83.00 to $80.00 in a research report on Monday, May 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Buy” and a consensus target price of $146.55.

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 10,000 shares of Intercontinental Exchange stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $123.11, for a total transaction of $1,231,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Warren Gardiner sold 2,034 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of $120.95, for a total transaction of $246,012.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,075 shares of company stock worth $9,882,941. Insiders own 1.30% of the company’s stock.

Intercontinental Exchange Company Profile (Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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

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