Nikko Asset Management Americas Inc. Sells 19,405 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Nikko Asset Management Americas Inc. reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 14.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 115,334 shares of the financial services provider’s stock after selling 19,405 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $17,186,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange in the third quarter worth $31,000. BankPlus Trust Department purchased a new stake in Intercontinental Exchange in the fourth quarter worth $40,000. Golden State Wealth Management LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth $51,000. Finally, Hanson & Doremus Investment Management purchased a new stake in Intercontinental Exchange in the fourth quarter worth $55,000. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Up 1.3 %

Shares of NYSE:ICE opened at $171.28 on Monday. The company has a market cap of $98.41 billion, a P/E ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $175.41. The stock’s fifty day moving average price is $161.47 and its 200-day moving average price is $159.63.

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

Intercontinental Exchange Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on ICE shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays upped their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group upped their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,313 shares of company stock valued at $11,113,733 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

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.