Beese Fulmer Investment Management Inc. Has $14.45 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Beese Fulmer Investment Management Inc. trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,985 shares of the financial services provider’s stock after selling 93 shares during the period. Intercontinental Exchange comprises 1.2% of Beese Fulmer Investment Management Inc.’s holdings, making the stock its 26th largest position. Beese Fulmer Investment Management Inc.’s holdings in Intercontinental Exchange were worth $14,452,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its position in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange in the third quarter valued at $26,000. Financial Management Professionals Inc. increased its holdings in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange during the third quarter worth $29,000. Finally, FSA Wealth Management LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at $31,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $167.37 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.75. The company’s 50 day moving average price is $153.11 and its two-hundred day moving average price is $156.74. The firm has a market cap of $96.10 billion, a PE ratio of 39.66, a PEG ratio of 3.06 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last released 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 net margin of 21.31% and a return on equity of 12.75%. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.15%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.45. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Insider Buying and Selling at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock worth $2,120,572 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Keefe, Bruyette & Woods dropped their price objective on Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Barclays dropped their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research report on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

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.