Gulf International Bank UK Ltd Sells 1,992 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Gulf International Bank UK Ltd lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 45,258 shares of the financial services provider’s stock after selling 1,992 shares during the period. Gulf International Bank UK Ltd’s holdings in Intercontinental Exchange were worth $7,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. raised its position in Intercontinental Exchange by 13.8% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 26.4% during the third quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider’s stock valued at $49,000 after buying an additional 63 shares during the period. Integrated Advisors Network LLC raised its holdings in shares of Intercontinental Exchange by 4.0% during the third 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 in the last quarter. American National Bank boosted its holdings in Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in 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 purchasing an additional 70 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Raymond James cut Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. Barclays decreased their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday. 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 Friday. Finally, The Goldman Sachs Group increased their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.93.

Insider Transactions 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 value of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now owns 13,530 shares in the company, valued at $2,202,819.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the completion of the transaction, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 over the last three months. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $154.49 on Tuesday. The firm has a market cap of $88.70 billion, a P/E ratio of 36.61, a PEG ratio of 2.33 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $107.40 and a twelve month high of $167.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average of $161.86 and a 200 day moving average of $148.61.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the previous year, the business earned $1.46 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 6.13 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s payout ratio is presently 42.65%.

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.