AlphaQuest LLC Decreases Position in Intercontinental Exchange, Inc. (NYSE:ICE)

AlphaQuest LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 55.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,281 shares of the financial services provider’s stock after selling 7,774 shares during the quarter. AlphaQuest LLC’s holdings in Intercontinental Exchange were worth $936,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after acquiring an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 4,787 shares during the last quarter. M&T Bank Corp grew its holdings in Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. bought a new stake in Intercontinental Exchange in the 4th quarter worth $702,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its holdings in Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange 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 of the company’s stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,313 shares of company stock valued at $11,113,733. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 0.6 %

NYSE:ICE opened at $169.29 on Tuesday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $175.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The company’s 50-day simple moving average is $159.86 and its 200 day simple moving average is $159.38. The firm has a market capitalization of $97.27 billion, a P/E ratio of 35.42, a PEG ratio of 2.10 and a beta of 1.08.

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

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

About Intercontinental Exchange

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.