Legato Capital Management LLC Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Legato Capital Management LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 44.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,217 shares of the financial services provider’s stock after selling 15,602 shares during the quarter. Legato Capital Management LLC’s holdings in Intercontinental Exchange were worth $2,864,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ICE. Wolff Wiese Magana LLC increased its position in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter worth $26,000. Financial Management Professionals Inc. grew its position in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Intercontinental Exchange during the third quarter worth $29,000. Finally, FSA Wealth Management LLC acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $31,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ICE. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Barclays boosted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at $3,661,008.24. This represents a 32.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock valued at $5,535,650 in the last three months. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $166.96 on Wednesday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.75. The company has a 50 day moving average price of $153.74 and a 200 day moving average price of $157.30. The stock has a market capitalization of $95.86 billion, a P/E ratio of 34.93, a PEG ratio of 3.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (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%. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.63 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is 37.66%.

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.