Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Cambiar Investors LLC

Cambiar Investors LLC cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 96.2% during the fourth quarter, Holdings Channel reports. The firm owned 8,696 shares of the financial services provider’s stock after selling 222,651 shares during the period. Cambiar Investors LLC’s holdings in Intercontinental Exchange were worth $1,296,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Intercontinental Exchange by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after purchasing an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC boosted its stake in shares of Intercontinental Exchange by 6.9% in the fourth 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 during the last quarter. M&T Bank Corp boosted its stake in shares of Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after buying an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. acquired a new stake in Intercontinental Exchange during the fourth quarter worth 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 valued at $108,515,000 after acquiring an additional 61,110 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,358 shares of company stock worth $5,535,650. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ICE. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. UBS Group upped their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Trading Down 0.1 %

Shares of ICE stock opened at $166.96 on Wednesday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.75. The firm has a market capitalization of $95.93 billion, a P/E ratio of 34.93, a PEG ratio of 3.21 and a beta of 1.11. The stock’s fifty day moving average is $153.53 and its two-hundred day moving average is $157.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.00 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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 return on equity of 12.95% and a net margin of 23.42%. Research analysts expect that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

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.