Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Veritas Asset Management LLP

Veritas Asset Management LLP lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,750,592 shares of the financial services provider’s stock after selling 473,603 shares during the quarter. Intercontinental Exchange accounts for 5.2% of Veritas Asset Management LLP’s investment portfolio, making the stock its 9th largest position. Veritas Asset Management LLP owned approximately 0.65% of Intercontinental Exchange worth $558,876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in ICE. Quintet Private Bank Europe S.A. grew its holdings in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock worth $82,000 after buying an additional 62 shares in the last quarter. Integrated Advisors Network LLC lifted its position in shares of Intercontinental Exchange by 4.0% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 66 shares during the last quarter. Strategic Advisors LLC lifted its position in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 66 shares during the last quarter. Commons Capital LLC lifted its position in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC lifted its position in shares of Intercontinental Exchange by 6.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays raised their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. 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 note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $168.49 on Tuesday. The firm has a market capitalization of $96.81 billion, a price-to-earnings ratio of 35.25, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.89. The firm has a fifty day moving average of $155.70 and a 200-day moving average of $158.33. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS 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%. On average, equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

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 given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.14%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,368 shares of company stock valued at $9,908,492 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

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.