Flossbach Von Storch AG Has $814.69 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Flossbach Von Storch AG lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,343,458 shares of the financial services provider’s stock after selling 46,470 shares during the period. Intercontinental Exchange makes up approximately 3.7% of Flossbach Von Storch AG’s holdings, making the stock its 11th biggest position. Flossbach Von Storch AG’s holdings in Intercontinental Exchange were worth $814,690,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the period. Norges Bank acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $579,605,000. T. Rowe Price Investment Management Inc. lifted its stake in shares of Intercontinental Exchange by 45.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after buying an additional 5,354,161 shares during the last quarter. Morgan Stanley grew its stake in Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after buying an additional 4,044,744 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Intercontinental Exchange by 59.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider’s stock worth $564,869,000 after acquiring an additional 1,589,999 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Citigroup lifted their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Morgan Stanley increased their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Rosenblatt Securities increased their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $147.08.

Insiders Place Their Bets

In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE traded up $0.84 during mid-day trading on Wednesday, reaching $130.74. The company had a trading volume of 2,361,235 shares, compared to its average volume of 2,404,729. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $74.86 billion, a P/E ratio of 31.13, a P/E/G ratio of 2.07 and a beta of 1.02. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The company’s 50-day moving average is $136.42 and its 200-day moving average is $124.22.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company posted $1.25 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a yield of 1.38%. Intercontinental Exchange’s payout ratio is 42.86%.

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.