Federated Hermes Inc. Acquires 449,988 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Federated Hermes Inc. boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 218.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 655,772 shares of the financial services provider's stock after acquiring an additional 449,988 shares during the period. Federated Hermes Inc. owned 0.11% of Intercontinental Exchange worth $97,717,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. IHT Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 13.8% in the third quarter. IHT Wealth Management LLC now owns 2,063 shares of the financial services provider's stock worth $332,000 after acquiring an additional 250 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in Intercontinental Exchange by 3.9% in the 3rd quarter. EP Wealth Advisors LLC now owns 6,922 shares of the financial services provider's stock valued at $1,112,000 after purchasing an additional 257 shares in the last quarter. Glen Eagle Advisors LLC grew its holdings in shares of Intercontinental Exchange by 14.7% during the third quarter. Glen Eagle Advisors LLC now owns 1,556 shares of the financial services provider's stock worth $250,000 after buying an additional 200 shares in the last quarter. MML Investors Services LLC raised its position in shares of Intercontinental Exchange by 10.6% in the third quarter. MML Investors Services LLC now owns 54,673 shares of the financial services provider's stock valued at $8,783,000 after buying an additional 5,224 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in Intercontinental Exchange by 6.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider's stock worth $27,192,000 after acquiring an additional 10,399 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CTO Mayur Kapani sold 5,661 shares of the firm's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 in the last quarter. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

ICE stock traded up $0.73 during mid-day trading on Friday, reaching $155.92. 2,786,452 shares of the stock traded hands, compared to its average volume of 2,919,019. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $89.57 billion, a PE ratio of 32.62, a P/E/G ratio of 2.10 and a beta of 1.09. The business has a 50-day moving average of $167.80 and a two-hundred day moving average of $160.52.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results 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 return on equity of 12.95% and a net margin of 23.42%. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange's payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. 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. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $182.47.

Intercontinental Exchange Company 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.