KBC Group NV Buys 62,419 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

KBC Group NV grew its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 46.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 197,349 shares of the financial services provider’s stock after buying an additional 62,419 shares during the quarter. KBC Group NV’s holdings in Intercontinental Exchange were worth $31,702,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. New Millennium Group LLC bought a new position in shares of Intercontinental Exchange during the 2nd quarter valued at approximately $25,000. International Assets Investment Management LLC bought a new position in shares of Intercontinental Exchange in the second quarter worth approximately $25,000. Fairscale Capital LLC purchased a new stake in shares of Intercontinental Exchange in the second quarter worth $25,000. Wolff Wiese Magana LLC raised 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 valued at $25,000 after purchasing an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at $26,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.4 %

Shares of ICE opened at $156.48 on Friday. The stock has a market capitalization of $89.85 billion, a PE ratio of 37.08, a P/E/G ratio of 2.57 and a beta of 1.08. The company’s fifty day moving average is $161.20 and its 200 day moving average is $149.70. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a fifty-two week low of $110.11 and a fifty-two week high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the previous year, the firm posted $1.46 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 4.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the completion of the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ICE. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Friday, November 1st. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, TD Cowen began coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $174.13.

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.