Alerus Financial NA Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Alerus Financial NA reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 22.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,296 shares of the financial services provider’s stock after selling 7,240 shares during the quarter. Alerus Financial NA’s holdings in Intercontinental Exchange were worth $3,769,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of ICE. Great Valley Advisor Group Inc. acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $228,000. Larson Financial Group LLC grew its holdings in Intercontinental Exchange by 17.6% in the third quarter. Larson Financial Group LLC now owns 1,279 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 191 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $530,000. Harvest Fund Management Co. Ltd raised its stake in shares of Intercontinental Exchange by 721.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 912 shares of the financial services provider’s stock worth $147,000 after buying an additional 801 shares during the period. Finally, Cadence Bank purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at approximately $233,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on ICE. 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 report on Friday, February 7th. JPMorgan Chase & Co. decreased their price target 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. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, UBS Group boosted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insiders Place Their Bets

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the sale, the insider now owns 17,972 shares in the company, valued at $3,001,144.28. This represents a 27.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now owns 147,274 shares of the company’s stock, valued at $25,247,181.82. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock worth $10,998,990 in the last ninety days. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Up 0.5 %

ICE stock opened at $176.56 on Friday. The firm has a market cap of $101.44 billion, a PE ratio of 36.94, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50 day moving average price is $166.61 and its 200-day moving average price is $160.48.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 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 dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

About Intercontinental Exchange

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.