Man Group plc Has $31.22 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Man Group plc increased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 88.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 209,494 shares of the financial services provider’s stock after buying an additional 98,437 shares during the period. Man Group plc’s holdings in Intercontinental Exchange were worth $31,217,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $1,196,258,000. Kovitz Investment Group Partners LLC boosted its stake in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock valued at $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $406,728,000. Swedbank AB boosted its stake in Intercontinental Exchange by 2,293.3% during the 4th 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 during the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Intercontinental Exchange by 1,237.7% during 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 purchasing an additional 1,574,386 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ICE has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price target 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. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays lifted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $185.93.

Intercontinental Exchange Trading Up 1.7%

NYSE:ICE opened at $174.91 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $100.33 billion, a PE ratio of 36.59, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm’s 50 day moving average is $167.15 and its 200 day moving average is $161.20. Intercontinental Exchange, Inc. has a 12 month low of $131.79 and a 12 month high of $179.44.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Intercontinental Exchange’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the sale, the insider now owns 17,972 shares of the company’s stock, valued at $3,001,144.28. The trade was a 27.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,368 shares of company stock valued at $7,077,789 in the last 90 days. 1.00% of the stock is currently owned by company insiders.

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.