iA Global Asset Management Inc. Lowers Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

iA Global Asset Management Inc. lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 240,086 shares of the financial services provider’s stock after selling 15,573 shares during the period. iA Global Asset Management Inc.’s holdings in Intercontinental Exchange were worth $35,775,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Magnetar Financial LLC boosted its holdings in Intercontinental Exchange by 2.0% in the fourth quarter. Magnetar Financial LLC now owns 44,984 shares of the financial services provider’s stock valued at $6,703,000 after acquiring an additional 864 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in Intercontinental Exchange by 16.3% in the fourth quarter. Teacher Retirement System of Texas now owns 327,285 shares of the financial services provider’s stock valued at $48,769,000 after acquiring an additional 45,836 shares during the last quarter. First National Bank of Hutchinson boosted its holdings in Intercontinental Exchange by 2.5% in the fourth quarter. First National Bank of Hutchinson now owns 3,547 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 87 shares during the last quarter. Sandy Spring Bank boosted its holdings in Intercontinental Exchange by 6.3% in the fourth quarter. Sandy Spring Bank now owns 14,901 shares of the financial services provider’s stock valued at $2,220,000 after acquiring an additional 885 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its holdings in Intercontinental Exchange by 1.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 310,802 shares of the financial services provider’s stock valued at $46,313,000 after acquiring an additional 5,008 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ICE. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Barclays lifted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective 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, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock valued at $10,998,990 over the last three months. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Up 0.4 %

Shares of Intercontinental Exchange stock opened at $173.59 on Thursday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $99.74 billion, a P/E ratio of 36.32, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $175.41. The business has a 50-day moving average price of $163.08 and a 200 day moving average price of $159.89.

Intercontinental Exchange (NYSE:ICE) last announced 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, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.