Ilmarinen Mutual Pension Insurance Co Purchases 59,800 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Ilmarinen Mutual Pension Insurance Co increased its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 61.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 157,800 shares of the financial services provider's stock after purchasing an additional 59,800 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Intercontinental Exchange were worth $23,514,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $25,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $34,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $40,000. Mountain Hill Investment Partners Corp. purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter worth $51,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ICE shares. Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Barclays increased their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $182.47.

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Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 5,661 shares of the business's stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares of the company's stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christopher Scott Edmonds sold 601 shares of the firm's 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 over the last three months. Company insiders own 1.10% of the company's stock.

Intercontinental Exchange Trading Down 0.5 %

NYSE ICE traded down $0.83 on Thursday, hitting $155.98. The company's stock had a trading volume of 2,383,765 shares, compared to its average volume of 2,905,160. The firm has a market cap of $89.61 billion, a P/E ratio of 32.51, 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 company's 50-day simple moving average is $167.97 and its 200 day simple moving average is $160.57. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS 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. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's payout ratio is currently 40.17%.

About Intercontinental Exchange

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.