Lipe & Dalton Trims Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Lipe & Dalton lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,183 shares of the financial services provider’s stock after selling 184 shares during the quarter. Lipe & Dalton’s holdings in Intercontinental Exchange were worth $1,070,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp grew its position in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intercontinental Exchange by 1.5% during the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after acquiring an additional 169,922 shares during the period. FMR LLC increased its position in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC increased its position in shares of Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after acquiring an additional 299,037 shares during the period. Finally, Franklin Resources Inc. increased its holdings in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the sale, the insider now owns 17,972 shares of the company’s stock, valued at approximately $3,001,144.28. This represents a 27.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares in the company, valued at $25,855,091.88. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,196 shares of company stock worth $10,840,972. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $168.04 on Friday. The firm has a market capitalization of $96.55 billion, a P/E ratio of 35.15, a PEG ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $169.78. The company’s fifty day moving average is $155.42 and its two-hundred day moving average is $158.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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%. Analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

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 annualized dividend and a yield of 1.14%. Intercontinental Exchange’s dividend payout ratio is presently 37.66%.

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.