Legato Capital Management LLC Sells 15,602 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Legato Capital Management LLC decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 44.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,217 shares of the financial services provider’s stock after selling 15,602 shares during the period. Legato Capital Management LLC’s holdings in Intercontinental Exchange were worth $2,864,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its stake in Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after purchasing an additional 3,460,096 shares during the period. FMR LLC boosted its holdings in shares of Intercontinental Exchange by 44.1% during 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 buying an additional 2,401,630 shares in the last quarter. Swedbank AB grew its position in shares of Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after buying an additional 2,123,185 shares during the period. Two Sigma Advisers LP grew its position in shares of Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after buying an additional 1,301,200 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Intercontinental Exchange by 426.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock worth $115,898,000 after acquiring an additional 584,400 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $166.96 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99. The firm has a market cap of $95.86 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. The business has a 50-day simple moving average of $153.74 and a two-hundred day simple moving average of $157.30. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.75.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data 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%. On average, analysts expect that Intercontinental Exchange, Inc. will post 6.63 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 given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 37.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ICE shares. UBS Group upped their price objective 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the sale, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction on Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,358 shares of company stock valued at $5,535,650. Insiders own 1.10% of the company’s stock.

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.