Kornitzer Capital Management Inc. KS Reduces Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Kornitzer Capital Management Inc. KS lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 95,437 shares of the financial services provider’s stock after selling 1,131 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Intercontinental Exchange were worth $14,221,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Quintet Private Bank Europe S.A. increased its position in shares of Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. grew its position in Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC increased its holdings in Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after buying an additional 66 shares during the last quarter. Strategic Advisors LLC raised its position in Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 66 shares during the period. Finally, Commons Capital LLC boosted its stake in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ICE shares. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Insider Activity

In related news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the transaction, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,358 shares of company stock valued at $5,535,650. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.85 on Tuesday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $169.78. The company has a market cap of $95.80 billion, a price-to-earnings ratio of 34.91, a PEG ratio of 3.21 and a beta of 1.11. The firm’s fifty day moving average is $154.42 and its 200 day moving average is $157.64. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.63 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 16th. 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.