Legato Capital Management LLC Buys 305 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

by · The Cerbat Gem

Legato Capital Management LLC lifted its stake in Intercontinental Exchange, Inc. (NYSE:ICE – Free Report) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 39,415 shares of the financial services provider’s stock after acquiring an additional 305 shares during the period. Intercontinental Exchange accounts for 0.6% of Legato Capital Management LLC’s portfolio, making the stock its 24th largest position. Legato Capital Management LLC’s holdings in Intercontinental Exchange were worth $4,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Jefferies Financial Group Inc. grew its stake in Intercontinental Exchange by 3.8% during the 2nd quarter. Jefferies Financial Group Inc. now owns 2,432 shares of the financial services provider’s stock worth $275,000 after buying an additional 88 shares during the last quarter. Proffitt & Goodson Inc. grew its stake in Intercontinental Exchange by 1.1% during the 2nd quarter. Proffitt & Goodson Inc. now owns 8,165 shares of the financial services provider’s stock valued at $923,000 after purchasing an additional 90 shares during the last quarter. Vestcor Inc grew its stake in Intercontinental Exchange by 0.5% during the 4th quarter. Vestcor Inc now owns 17,924 shares of the financial services provider’s stock valued at $1,839,000 after purchasing an additional 94 shares during the last quarter. Headinvest LLC grew its stake in Intercontinental Exchange by 0.8% during the 1st quarter. Headinvest LLC now owns 12,282 shares of the financial services provider’s stock valued at $1,281,000 after purchasing an additional 95 shares during the last quarter. Finally, Capital Impact Advisors LLC grew its stake in Intercontinental Exchange by 7.0% during the 4th quarter. Capital Impact Advisors LLC now owns 1,509 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 99 shares during the last quarter. 87.91% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded up $0.40 during mid-day trading on Tuesday, reaching $123.96. 387,689 shares of the stock traded hands, compared to its average volume of 2,514,577. The business has a 50-day moving average of $111.81 and a 200 day moving average of $112.80. Intercontinental Exchange, Inc. has a fifty-two week low of $94.16 and a fifty-two week high of $125.02. The stock has a market capitalization of $69.29 billion, a PE ratio of 28.67, a PEG ratio of 2.97 and a beta of 0.96. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.82.

Intercontinental Exchange (NYSE:ICE – Get Free Report) last announced its earnings results on Thursday, November 2nd. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. Intercontinental Exchange had a return on equity of 13.06% and a net margin of 25.17%. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. On average, analysts predict that Intercontinental Exchange, Inc. will post 5.59 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Thursday, December 14th will be issued a $0.42 dividend. The ex-dividend date is Wednesday, December 13th. This represents a $1.68 annualized dividend and a dividend yield of 1.36%. Intercontinental Exchange’s dividend payout ratio is presently 38.98%.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $120.00, for a total value of $140,520.00. Following the completion of the sale, the chief accounting officer now directly owns 18,677 shares in the company, valued at approximately $2,241,240. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $120.00, for a total value of $140,520.00. Following the completion of the sale, the chief accounting officer now owns 18,677 shares of the company’s stock, valued at approximately $2,241,240. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 2,030 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $115.00, for a total transaction of $233,450.00. Following the completion of the sale, the insider now directly owns 12,799 shares of the company’s stock, valued at approximately $1,471,885. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,350 shares of company stock worth $12,466,960. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $134.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, October 11th. Bank of America lowered their target price on Intercontinental Exchange from $141.00 to $140.00 in a research note on Tuesday, October 3rd. Jefferies Financial Group upped their target price on Intercontinental Exchange from $129.00 to $134.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. UBS Group upped their target price on Intercontinental Exchange from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Friday, September 8th. Finally, Raymond James lowered their target price on Intercontinental Exchange from $137.00 to $135.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.83.

Check Out Our Latest Stock Analysis on ICE

Intercontinental Exchange Company Profile

(Free Report)

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.

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