Arcadia Investment Management Corp MI Acquires 1,448 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Arcadia Investment Management Corp MI boosted its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 96,015 shares of the financial services provider’s stock after purchasing an additional 1,448 shares during the period. Intercontinental Exchange accounts for 2.3% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 14th largest holding. Arcadia Investment Management Corp MI’s holdings in Intercontinental Exchange were worth $14,307,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in Intercontinental Exchange by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after acquiring an additional 366 shares during the period. Kestra Private Wealth Services LLC increased its stake in Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after acquiring an additional 4,787 shares during the period. M&T Bank Corp increased its stake in Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after acquiring an additional 11,648 shares during the period. Avantra Family Wealth Inc. bought a new stake in Intercontinental Exchange in the fourth quarter valued at about $702,000. Finally, Dixon Mitchell Investment Counsel Inc. increased its stake in Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after acquiring an additional 61,110 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,196 shares of company stock worth $10,840,972 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $167.00 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $169.78. The firm’s 50 day moving average is $155.18 and its 200-day moving average is $157.99. The firm has a market capitalization of $95.95 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.11 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.71 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed 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 of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is currently 37.66%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. JPMorgan Chase & Co. decreased 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 note on Friday, January 17th. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays upped their price objective 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 reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $178.80.

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.