Canada Pension Plan Investment Board Sells 43,000 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Canada Pension Plan Investment Board lessened its position in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 21.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 156,950 shares of the financial services provider’s stock after selling 43,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Intercontinental Exchange were worth $17,268,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ICE. RB Capital Management LLC boosted its holdings in Intercontinental Exchange by 3.2% during the 1st quarter. RB Capital Management LLC now owns 4,044 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 126 shares during the period. United Bank lifted its position in shares of Intercontinental Exchange by 2.7% during the first quarter. United Bank now owns 15,988 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 422 shares during the last quarter. U.S. Capital Wealth Advisors LLC boosted its stake in shares of Intercontinental Exchange by 13.5% during the first quarter. U.S. Capital Wealth Advisors LLC now owns 1,855 shares of the financial services provider’s stock valued at $245,000 after purchasing an additional 220 shares during the period. Sei Investments Co. grew its holdings in shares of Intercontinental Exchange by 31.5% in the first quarter. Sei Investments Co. now owns 204,883 shares of the financial services provider’s stock worth $27,077,000 after purchasing an additional 49,081 shares during the last quarter. Finally, Prudential PLC purchased a new position in Intercontinental Exchange in the 1st quarter worth about $1,679,000. 87.91% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $135.49 on Monday. Intercontinental Exchange, Inc. has a one year low of $94.16 and a one year high of $135.98. The company has a market capitalization of $77.58 billion, a PE ratio of 32.26, a P/E/G ratio of 2.74 and a beta of 1.01. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50-day simple moving average of $125.12 and a two-hundred day simple moving average of $116.83.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange, Inc. will post 5.84 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.45 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.33%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is 40.00%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $120.00, for a total value of $140,520.00. Following the completion of the transaction, the chief accounting officer now owns 18,677 shares of the company’s stock, valued at $2,241,240. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $114.46, for a total value of $183,136.00. Following the sale, the senior vice president now owns 16,802 shares in the company, valued at $1,923,156.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO James W. Namkung sold 1,171 shares of the firm’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $120.00, for a total transaction of $140,520.00. Following the transaction, the chief accounting officer now directly owns 18,677 shares of the company’s stock, valued at $2,241,240. The disclosure for this sale can be found here. Insiders sold 82,384 shares of company stock valued at $10,222,586 in the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ICE. JPMorgan Chase & Co. upped their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley raised their price objective on Intercontinental Exchange from $119.00 to $124.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 28th. Rosenblatt Securities upped their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Finally, Raymond James upped their price objective on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.15.

Check Out Our Latest Report on Intercontinental Exchange

Intercontinental Exchange Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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