Paradigm Asset Management Co. LLC Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Paradigm Asset Management Co. LLC cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 66.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,381 shares of the financial services provider’s stock after selling 12,600 shares during the quarter. Paradigm Asset Management Co. LLC’s holdings in Intercontinental Exchange were worth $951,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after buying an additional 366 shares during the period. Kestra Private Wealth Services LLC boosted its position in shares of Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after purchasing an additional 4,787 shares in the last quarter. M&T Bank Corp boosted its position in shares of Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Avantra Family Wealth Inc. bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after purchasing an additional 61,110 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ICE. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group lifted their price target on 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 Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Trading Up 0.0 %

Shares of NYSE:ICE opened at $167.00 on Friday. The company has a market cap of $95.95 billion, a P/E ratio of 34.94, a PEG ratio of 2.11 and a beta of 1.11. 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 $169.78. The stock’s fifty day moving average price is $155.18 and its 200-day moving average price is $157.99.

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 6.71 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

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 1.15%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 37.66%.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % 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, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,196 shares of company stock valued at $10,840,972 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.

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.