Intercontinental Exchange Inc (ICE) Shares Bought by Mackay Shields LLC

Mackay Shields LLC boosted its position in Intercontinental Exchange Inc (NYSE:ICE) by 44.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,018 shares of the financial services provider’s stock after buying an additional 50,181 shares during the quarter. Mackay Shields LLC’s holdings in Intercontinental Exchange were worth $12,205,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Intercontinental Wealth Advisors LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $25,000. Gradient Investments LLC boosted its stake in Intercontinental Exchange by 432.8% in the fourth quarter. Gradient Investments LLC now owns 357 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 290 shares during the period. Ruggie Capital Group acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $29,000. Moody National Bank Trust Division acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $30,000. Finally, Highwater Wealth Management LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at approximately $35,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Jeffrey C. Sprecher sold 92,502 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $74.33, for a total transaction of $6,875,673.66. Following the sale, the chief executive officer now owns 1,553,471 shares of the company’s stock, valued at $115,469,499.43. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, January 28th. The stock was sold at an average price of $75.42, for a total value of $188,550.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 194,856 shares of company stock valued at $14,693,582. Insiders own 1.50% of the company’s stock.

A number of brokerages have commented on ICE. Deutsche Bank decreased their target price on Intercontinental Exchange from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Friday. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $85.50 target price on shares of Intercontinental Exchange in a research note on Monday, February 11th. Wells Fargo & Co restated a “hold” rating on shares of Intercontinental Exchange in a research note on Thursday, February 7th. Finally, Citigroup upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 target price for the company in a research note on Tuesday, January 22nd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $85.55.

Shares of NYSE ICE opened at $74.63 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $42.43 billion, a PE ratio of 20.79, a price-to-earnings-growth ratio of 2.01 and a beta of 0.48. Intercontinental Exchange Inc has a 12-month low of $67.70 and a 12-month high of $82.65.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 7th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. Intercontinental Exchange had a return on equity of 12.23% and a net margin of 31.68%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. On average, analysts predict that Intercontinental Exchange Inc will post 3.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.10 annualized dividend and a dividend yield of 1.47%. Intercontinental Exchange’s dividend payout ratio is presently 26.74%.

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Intercontinental Exchange Company Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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