M.D. Sass LLC Has $60.11 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

M.D. Sass LLC raised its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 30.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 403,415 shares of the financial services provider's stock after buying an additional 93,227 shares during the period. Intercontinental Exchange comprises approximately 4.5% of M.D. Sass LLC's holdings, making the stock its 12th largest holding. M.D. Sass LLC owned about 0.07% of Intercontinental Exchange worth $60,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ICE. Strategic Advisors LLC boosted its holdings in Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock valued at $201,000 after acquiring an additional 66 shares during the last quarter. Commons Capital LLC lifted its position in Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider's stock valued at $886,000 after purchasing an additional 69 shares during the period. Brooklyn Investment Group boosted its stake in shares of Intercontinental Exchange by 2.2% in the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider's stock valued at $475,000 after purchasing an additional 70 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in shares of Intercontinental Exchange by 3.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider's stock worth $294,000 after buying an additional 70 shares during the period. Finally, Johnson Investment Counsel Inc. grew its position in shares of Intercontinental Exchange by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock worth $465,000 after buying an additional 71 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a report on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Barclays boosted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded down $1.71 during mid-day trading on Friday, reaching $174.65. 3,199,231 shares of the company were exchanged, compared to its average volume of 2,778,671. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $177.45. The stock has a market capitalization of $100.35 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.10 and a beta of 1.08. The company's 50-day simple moving average is $167.12 and its 200-day simple moving average is $160.56. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 1.10%. Intercontinental Exchange's payout ratio is presently 40.17%.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was 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 in the company, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company's stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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 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.