Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Schwerin Boyle Capital Management Inc.

Schwerin Boyle Capital Management Inc. decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 61,150 shares of the financial services provider’s stock after selling 300 shares during the period. Schwerin Boyle Capital Management Inc.’s holdings in Intercontinental Exchange were worth $9,112,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ICE. Wealth Enhancement Advisory Services LLC boosted its position in Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC boosted its position in shares of Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after buying an additional 4,787 shares in the last quarter. M&T Bank Corp grew its stake in Intercontinental Exchange by 33.2% in the 3rd 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 last quarter. Avantra Family Wealth Inc. purchased a new position in Intercontinental Exchange during the 4th quarter valued at about $702,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its position in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $159.52 on Tuesday. The company has a market cap of $91.64 billion, a PE ratio of 33.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average price of $167.77 and a two-hundred day moving average price of $160.54. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45.

Intercontinental Exchange (NYSE:ICE) last issued 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%. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note 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 for the company in a research report on Friday, January 17th. Bank of America reduced their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, Barclays lifted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and an average target price of $182.47.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction 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. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company 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.