Tobam Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Tobam trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,706 shares of the financial services provider’s stock after selling 172 shares during the period. Tobam’s holdings in Intercontinental Exchange were worth $254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quintet Private Bank Europe S.A. increased its holdings in shares of Intercontinental Exchange by 13.8% in the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares during the period. Raleigh Capital Management Inc. increased its holdings in Intercontinental Exchange by 26.4% in the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock worth $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC raised its position in Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after buying an additional 66 shares during the last quarter. Commons Capital LLC lifted its stake in Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 69 shares during the period. Finally, Catalyst Capital Advisors LLC boosted its holdings in shares of Intercontinental Exchange by 6.2% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at approximately $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,795 shares of company stock valued at $2,120,572. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Performance

ICE opened at $166.95 on Friday. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $169.75. The firm has a market capitalization of $95.86 billion, a PE ratio of 39.56, a PEG ratio of 3.06 and a beta of 1.11. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm’s 50-day moving average price is $153.23 and its 200 day moving average price is $156.81.

Intercontinental Exchange (NYSE:ICE) last issued its 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 return on equity of 12.75% and a net margin of 21.31%. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business 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. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley boosted their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

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.