AGF Management Ltd. Acquires 61,235 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

AGF Management Ltd. raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,149,682 shares of the financial services provider's stock after buying an additional 61,235 shares during the quarter. Intercontinental Exchange makes up about 1.6% of AGF Management Ltd.'s investment portfolio, making the stock its 9th largest holding. AGF Management Ltd. owned about 0.37% of Intercontinental Exchange worth $320,324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ICE. Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange during the third quarter valued at $29,000. CWA Asset Management Group LLC acquired a new stake in Intercontinental Exchange during the third quarter worth about $859,000. Verdence Capital Advisors LLC acquired a new position in Intercontinental Exchange in the third quarter valued at about $247,000. Assetmark Inc. raised its stake in shares of Intercontinental Exchange by 26.7% in the third quarter. Assetmark Inc. now owns 16,481 shares of the financial services provider's stock valued at $2,648,000 after acquiring an additional 3,469 shares during the last quarter. Finally, Essex Savings Bank bought a new position in shares of Intercontinental Exchange in the third quarter worth about $230,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $169.29 on Tuesday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a fifty day moving average of $159.86 and a two-hundred day moving average of $159.38. The stock has a market capitalization of $97.27 billion, a PE ratio of 35.42, a P/E/G ratio of 2.10 and a beta of 1.08.

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Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given 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 1.13%. Intercontinental Exchange's payout ratio is 40.17%.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now owns 147,274 shares in the company, valued at $25,247,181.82. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 67,313 shares of company stock worth $11,113,733. Insiders own 1.10% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on ICE shares. StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. 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 report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a "hold" rating in a research report on Monday, November 11th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $178.80.

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.

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