Motco Decreases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Motco cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,608 shares of the financial services provider’s stock after selling 1,826 shares during the period. Intercontinental Exchange comprises approximately 1.1% of Motco’s holdings, making the stock its 26th largest position. Motco’s holdings in Intercontinental Exchange were worth $10,968,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sierra Ocean LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange in the third quarter worth $29,000. FSA Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at $31,000. BankPlus Trust Department purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at $40,000. Finally, Planning Capital Management Corp lifted its position in Intercontinental Exchange by 96.7% during the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 147 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the transaction, the president now owns 164,041 shares of the company’s stock, valued at approximately $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,368 shares of company stock worth $9,908,492. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, Barclays lifted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Stock Down 0.2 %

Shares of Intercontinental Exchange stock opened at $170.91 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $173.52. The business has a 50-day moving average of $156.95 and a two-hundred day moving average of $158.63. The company has a market capitalization of $98.20 billion, a P/E ratio of 35.75, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly 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%. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.12%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 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.