Meeder Advisory Services Inc. Grows Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Meeder Advisory Services Inc. lifted its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 10,254 shares of the financial services provider’s stock after buying an additional 82 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Intercontinental Exchange were worth $1,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the stock. Edgestream Partners L.P. bought a new position in Intercontinental Exchange during the third quarter valued at $516,000. Atom Investors LP bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth $305,000. Benjamin Edwards Inc. increased its holdings in Intercontinental Exchange by 150.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 7,191 shares of the financial services provider’s stock worth $1,155,000 after acquiring an additional 4,319 shares during the last quarter. Centiva Capital LP raised its stake in Intercontinental Exchange by 114.0% in the 3rd quarter. Centiva Capital LP now owns 8,883 shares of the financial services provider’s stock valued at $1,427,000 after acquiring an additional 4,733 shares during the period. Finally, Hilltop Holdings Inc. bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $1,405,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $170.43 on Thursday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. The firm’s fifty day moving average price is $168.31 and its 200-day moving average price is $160.78. The stock has a market cap of $97.92 billion, a P/E ratio of 35.65, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results 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 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 7,900 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ICE shares. Barclays lifted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Bank of America lowered their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Company 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.