Intercontinental Exchange, Inc. (NYSE:ICE) Position Trimmed by Bancreek Capital Management LP

Bancreek Capital Management LP decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 44.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,042 shares of the financial services provider’s stock after selling 26,625 shares during the period. Intercontinental Exchange comprises 4.8% of Bancreek Capital Management LP’s portfolio, making the stock its 13th largest holding. Bancreek Capital Management LP’s holdings in Intercontinental Exchange were worth $4,924,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sierra Ocean LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange during the 3rd quarter valued at $31,000. Lee Danner & Bass Inc. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $34,000. BankPlus Trust Department purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $40,000. Finally, Golden State Wealth Management LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at $51,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.7 %

Shares of NYSE:ICE opened at $174.42 on Friday. 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 stock’s 50-day moving average is $164.29 and its 200-day moving average is $160.09. The company has a market cap of $100.22 billion, a P/E ratio of 36.49, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $175.99.

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 net margin of 23.42% and a return on equity of 12.95%. Equities research analysts predict 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 Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.10%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Barclays upped their target price on 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. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group increased their price target 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. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $178.80.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 10,580 shares of the firm’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 completion of the transaction, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the sale, the president now directly owns 164,041 shares in the company, valued at approximately $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock valued at $10,998,990 in the last ninety days. Company insiders own 1.10% of the company’s stock.

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.