Intercontinental Exchange, Inc. (NYSE:ICE) is Dixon Mitchell Investment Counsel Inc.’s 3rd Largest Position

Dixon Mitchell Investment Counsel Inc. cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 667,023 shares of the financial services provider’s stock after selling 3,065 shares during the period. Intercontinental Exchange comprises approximately 4.9% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 3rd largest position. Dixon Mitchell Investment Counsel Inc. owned about 0.12% of Intercontinental Exchange worth $107,290,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. American National Bank lifted its stake in Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock worth $78,000 after purchasing an additional 69 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Intercontinental Exchange by 3.4% during the second quarter. Catalyst Financial Partners LLC now owns 2,223 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 73 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Intercontinental Exchange by 1.8% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 4,083 shares of the financial services provider’s stock worth $559,000 after purchasing an additional 74 shares during the period. Founders Financial Securities LLC boosted its holdings in shares of Intercontinental Exchange by 4.8% during the second quarter. Founders Financial Securities LLC now owns 1,600 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 74 shares during the period. Finally, HBK Sorce Advisory LLC boosted its holdings in shares of Intercontinental Exchange by 3.7% during the second quarter. HBK Sorce Advisory LLC now owns 2,112 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 75 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ICE shares. Piper Sandler increased their target price on shares of Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Friday, October 4th. Bank of America raised their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Citigroup raised their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $172.80.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at approximately $2,202,819.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,532 shares of company stock valued at $1,358,709 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $166.82 on Friday. The company has a market capitalization of $95.69 billion, a P/E ratio of 38.26, a price-to-earnings-growth ratio of 2.62 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 0.69. The firm has a 50 day moving average of $160.55 and a 200 day moving average of $146.20. Intercontinental Exchange, Inc. has a twelve month low of $104.49 and a twelve month high of $167.23.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.03. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 earnings per share. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.08 earnings per share for the current fiscal year.

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.