Azimuth Capital Investment Management LLC Raises Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Azimuth Capital Investment Management LLC increased its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 53.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,380 shares of the financial services provider's stock after buying an additional 70,333 shares during the period. Intercontinental Exchange accounts for approximately 1.2% of Azimuth Capital Investment Management LLC's investment portfolio, making the stock its 15th biggest holding. Azimuth Capital Investment Management LLC's holdings in Intercontinental Exchange were worth $30,008,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ICE. Vanguard Group Inc. raised its holdings in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after acquiring an additional 538,670 shares during the last quarter. Geode Capital Management LLC increased its holdings in Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after purchasing an additional 327,637 shares in the last quarter. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth approximately $1,196,258,000. Franklin Resources Inc. lifted its holdings in shares of Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock valued at $865,455,000 after purchasing an additional 390,332 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Intercontinental Exchange by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,940,448 shares of the financial services provider's stock valued at $587,166,000 after buying an additional 11,767 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now owns 12,922 shares of the company's stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares of the company's stock, valued at $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

NYSE ICE traded up $3.21 during trading hours on Monday, hitting $159.12. The company had a trading volume of 620,645 shares, compared to its average volume of 3,453,687. 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 firm has a market capitalization of $91.41 billion, a price-to-earnings ratio of 33.29, a PEG ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The firm has a 50 day simple moving average of $167.80 and a 200 day simple moving average of $160.54.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 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%. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company 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 of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.21%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 40.17%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays raised their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods upped their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. UBS Group lifted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three investment 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, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $182.47.

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.