Alerus Financial NA Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Alerus Financial NA cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 22.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,296 shares of the financial services provider’s stock after selling 7,240 shares during the period. Alerus Financial NA’s holdings in Intercontinental Exchange were worth $3,769,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ICE. Strategic Advisors LLC lifted its position in Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 66 shares in the last quarter. Commons Capital LLC lifted its holdings in shares of 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 buying an additional 69 shares during the period. Brooklyn Investment Group boosted its stake in shares of Intercontinental Exchange by 2.2% in the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after buying an additional 70 shares during the last quarter. Clear Harbor Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 3.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock worth $294,000 after acquiring an additional 70 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Intercontinental Exchange by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 71 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 recently issued reports on ICE. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. UBS Group boosted 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, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. 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. Finally, Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now owns 147,274 shares in the company, valued at $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the 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 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. In the last quarter, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $176.56 on Friday. The company has a 50 day moving average of $166.61 and a two-hundred day moving average of $160.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $177.45. The company has a market cap of $101.44 billion, a price-to-earnings ratio of 36.94, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Intercontinental Exchange Company 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.