Bank Pictet & Cie Europe AG Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Bank Pictet & Cie Europe AG reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,765 shares of the financial services provider’s stock after selling 2,193 shares during the period. Bank Pictet & Cie Europe AG’s holdings in Intercontinental Exchange were worth $8,161,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Valeo Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 2.0% during the 4th quarter. Valeo Financial Advisors LLC now owns 6,821 shares of the financial services provider’s stock worth $1,016,000 after acquiring an additional 137 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Intercontinental Exchange by 9.4% during the 4th quarter. V Square Quantitative Management LLC now owns 10,437 shares of the financial services provider’s stock worth $1,555,000 after acquiring an additional 899 shares during the period. Compagnie Lombard Odier SCmA lifted its holdings in shares of Intercontinental Exchange by 160.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 479,463 shares of the financial services provider’s stock worth $71,445,000 after acquiring an additional 295,407 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in shares of Intercontinental Exchange by 8.9% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 12,747 shares of the financial services provider’s stock worth $1,899,000 after acquiring an additional 1,047 shares during the period. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Asset Management One Co. Ltd. now owns 222,457 shares of the financial services provider’s stock worth $33,440,000 after acquiring an additional 2,588 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ICE. UBS Group increased 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. 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 report on Friday, February 7th. Finally, 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 report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $178.80.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Benjamin Jackson sold 5,828 shares of the company’s 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 directly owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,358 shares of company stock valued at $5,535,650 over the last ninety days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $166.85 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $169.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 1.00. The firm has a market capitalization of $95.80 billion, a P/E ratio of 34.91, a P/E/G ratio of 3.21 and a beta of 1.11. The company’s fifty day moving average price is $154.20 and its two-hundred day moving average price is $157.45.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS 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, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared 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. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is presently 37.66%.

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.