Magellan Asset Management Ltd Has $295.15 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Magellan Asset Management Ltd decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 13.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,980,736 shares of the financial services provider's stock after selling 295,617 shares during the period. Intercontinental Exchange accounts for 3.2% of Magellan Asset Management Ltd's portfolio, making the stock its 12th largest position. Magellan Asset Management Ltd owned approximately 0.34% of Intercontinental Exchange worth $295,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $1,196,258,000. Raymond James Financial Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $406,728,000. Swedbank AB raised its stake in shares of Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider's stock valued at $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. AMF Tjanstepension AB grew its position in Intercontinental Exchange by 1,237.7% in the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider's stock valued at $253,591,000 after buying an additional 1,574,386 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Intercontinental Exchange by 285.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider's stock valued at $282,148,000 after buying an additional 1,301,200 shares during the period. Institutional investors and hedge funds own 89.30% of the company's stock.

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Insider Activity

In other news, insider Christopher Scott Edmonds sold 601 shares of the firm's stock in a transaction 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 owns 12,922 shares in the company, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the company's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now owns 164,041 shares of the company's stock, valued at $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock worth $10,998,990 in the last three months. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ICE shares. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. 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. dropped their price target on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Finally, UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $182.47.

Intercontinental Exchange Stock Up 0.8 %

ICE stock traded up $1.23 during midday trading on Tuesday, reaching $155.88. The company had a trading volume of 1,641,485 shares, compared to its average volume of 2,860,829. The company has a 50 day moving average of $168.37 and a two-hundred day moving average of $160.75. The company has a market capitalization of $89.55 billion, a P/E ratio of 32.56, a PEG ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. 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 data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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 paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is presently 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.