CIBC Private Wealth Group LLC Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

CIBC Private Wealth Group LLC cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,405,596 shares of the financial services provider’s stock after selling 69,534 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.42% of Intercontinental Exchange worth $352,588,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. State Street Corp lifted its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after buying an additional 281,503 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after buying an additional 169,922 shares during the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $1,196,258,000. Finally, Franklin Resources Inc. raised its holdings in Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after acquiring an additional 390,332 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ICE has been the topic of a number of research analyst reports. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. UBS Group raised their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Three equities research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Price Performance

ICE opened at $174.65 on Friday. The stock’s 50-day moving average price is $167.12 and its 200 day moving average price is $160.56. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. The firm has a market cap of $100.35 billion, a price-to-earnings ratio of 36.54, a PEG ratio of 2.10 and a beta of 1.08. 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 issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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%. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

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 issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Activity at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the transaction, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock worth $10,998,990 in the last 90 days. 1.10% of the stock is owned by insiders.

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.