Manning & Napier Group LLC Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Manning & Napier Group LLC boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 822,330 shares of the financial services provider’s stock after purchasing an additional 146,170 shares during the period. Intercontinental Exchange comprises 1.3% of Manning & Napier Group LLC’s holdings, making the stock its 25th largest position. Manning & Napier Group LLC owned approximately 0.15% of Intercontinental Exchange worth $105,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its position in Intercontinental Exchange by 27.3% in the fourth quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after purchasing an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after purchasing an additional 8,320 shares during the last quarter. First County Bank CT boosted its position in Intercontinental Exchange by 2.7% in the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 100 shares during the last quarter. CIC Wealth LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $221,000. Finally, Fortitude Family Office LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE ICE traded up $0.45 during trading on Friday, reaching $137.43. The company’s stock had a trading volume of 2,596,799 shares, compared to its average volume of 2,578,593. The stock has a market capitalization of $78.70 billion, a PE ratio of 32.72, a P/E/G ratio of 2.45 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average of $134.41 and a 200 day moving average of $122.02. Intercontinental Exchange, Inc. has a one year low of $99.84 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. Analysts expect that Intercontinental Exchange, Inc. will post 5.91 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.45 dividend. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is currently 42.86%.

Insiders Place Their Bets

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction dated Monday, March 4th. The shares were purchased at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 7,070 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total value of $962,156.30. Following the transaction, the senior vice president now owns 18,383 shares in the company, valued at $2,501,742.47. The disclosure for this sale can be found here. Insiders have sold 155,253 shares of company stock worth $20,486,424 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Raymond James upped their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Rosenblatt Securities upped their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. UBS Group upped their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Barclays upped their price target on Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.83.

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.