Picton Mahoney Asset Management Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Picton Mahoney Asset Management lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 69.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 50,393 shares of the financial services provider’s stock after selling 114,515 shares during the quarter. Picton Mahoney Asset Management’s holdings in Intercontinental Exchange were worth $7,509,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after purchasing an additional 169,922 shares in the last quarter. FMR LLC boosted its holdings in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares in the last quarter. Parnassus Investments LLC boosted its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after acquiring an additional 390,332 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 1.3 %

Shares of ICE opened at $171.28 on Friday. The stock has a fifty day moving average of $161.47 and a two-hundred day moving average of $159.64. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $98.41 billion, a PE ratio of 35.83, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Insider Activity

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. The trade was a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,313 shares of company stock valued at $11,113,733 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays lifted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Company 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.