Magellan Asset Management Ltd Sells 93,363 Shares of Intercontinental Exchange Inc. $ICE

Magellan Asset Management Ltd trimmed its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.4% in the third quarter, HoldingsChannel reports. The firm owned 1,359,146 shares of the financial services provider’s stock after selling 93,363 shares during the period. Intercontinental Exchange makes up 2.7% of Magellan Asset Management Ltd’s portfolio, making the stock its 11th biggest position. Magellan Asset Management Ltd’s holdings in Intercontinental Exchange were worth $228,989,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of ICE. Westside Investment Management Inc. bought a new stake in shares of Intercontinental Exchange during the second quarter worth $29,000. Private Wealth Management Group LLC lifted its position in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Knuff & Co LLC grew its holdings in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares during the last quarter. Cornerstone Planning Group LLC increased its position in Intercontinental Exchange by 128.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 153 shares in the last quarter. Finally, Capital A Wealth Management LLC increased its position in Intercontinental Exchange by 26,000.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 260 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. UBS Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $195.40.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 354,492 shares of company stock worth $55,139,102 over the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

ICE opened at $155.34 on Wednesday. The company has a fifty day moving average price of $164.34 and a two-hundred day moving average price of $163.75. The firm has a market capitalization of $88.22 billion, a PE ratio of 26.92, a P/E/G ratio of 1.60 and a beta of 1.02. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the company earned $1.52 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.