Manning & Napier Advisors LLC Invests $124.51 Million in Intercontinental Exchange, Inc. (NYSE:ICE)

Manning & Napier Advisors LLC bought a new stake in Intercontinental Exchange, Inc. (NYSE:ICE) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 909,546 shares of the financial services provider’s stock, valued at approximately $124,508,000. Intercontinental Exchange makes up 1.4% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 19th biggest position. Manning & Napier Advisors LLC owned approximately 0.16% of Intercontinental Exchange as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ICE. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $839,259,000. Wellington Management Group LLP grew its position in shares of Intercontinental Exchange by 35.0% during the 4th quarter. Wellington Management Group LLP now owns 16,397,991 shares of the financial services provider’s stock valued at $2,105,994,000 after buying an additional 4,251,371 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares during the last quarter. Capital World Investors grew its position in shares of Intercontinental Exchange by 35.6% during the 4th quarter. Capital World Investors now owns 9,643,762 shares of the financial services provider’s stock valued at $1,238,559,000 after buying an additional 2,530,119 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Intercontinental Exchange by 303.1% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,381,314 shares of the financial services provider’s stock valued at $305,832,000 after buying an additional 1,790,493 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 1,898 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $136.66, for a total value of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares in the company, valued at approximately $6,397,737.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,267 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $134.57, for a total value of $305,070.19. Following the completion of the sale, the director now owns 28,849 shares in the company, valued at approximately $3,882,209.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 1,898 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $136.66, for a total transaction of $259,380.68. Following the completion of the sale, the general counsel now owns 46,815 shares of the company’s stock, valued at approximately $6,397,737.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,992 shares of company stock worth $9,197,801. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

ICE stock traded up $0.31 on Friday, hitting $154.07. 2,787,423 shares of the company’s stock traded hands, compared to its average volume of 2,475,935. Intercontinental Exchange, Inc. has a 1-year low of $104.49 and a 1-year high of $154.38. The stock has a market cap of $88.37 billion, a price-to-earnings ratio of 35.34, a P/E/G ratio of 2.68 and a beta of 1.06. The stock has a fifty day moving average of $142.48 and a 200-day moving average of $137.08. The company has a current ratio of 0.99, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.49 by $0.03. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the prior year, the business earned $1.43 earnings per share. The business’s quarterly revenue was up 22.7% on a year-over-year basis. On average, analysts forecast that Intercontinental Exchange, Inc. will post 6 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ICE. Barclays boosted their price objective on shares of Intercontinental Exchange from $159.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Rosenblatt Securities restated a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a research report on Friday, May 3rd. Argus restated a “buy” rating and issued a $153.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, May 21st. Citigroup upped their target price on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Bank of America decreased their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $154.79.

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.