Nikko Asset Management Americas Inc. Sells 19,405 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Nikko Asset Management Americas Inc. decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 14.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 115,334 shares of the financial services provider’s stock after selling 19,405 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $17,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $25,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the 3rd quarter worth $31,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $40,000. Golden State Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $51,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Intercontinental Exchange during the 4th quarter worth $55,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $171.28 on Monday. The stock has a market cap of $98.41 billion, a P/E ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.08. 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, Inc. has a twelve month low of $124.34 and a twelve month high of $175.41. The business’s 50-day moving average price is $161.47 and its two-hundred day moving average price is $159.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued 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 dividend yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the transaction, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 67,313 shares of company stock valued at $11,113,733. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ICE. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Barclays increased their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $178.80.

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.