Intercontinental Exchange, Inc. (NYSE:ICE) is Platinum Investment Management Ltd.’s 4th Largest Position

Platinum Investment Management Ltd. reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 837,424 shares of the financial services provider’s stock after selling 125,161 shares during the period. Intercontinental Exchange comprises approximately 7.3% of Platinum Investment Management Ltd.’s portfolio, making the stock its 4th biggest holding. Platinum Investment Management Ltd.’s holdings in Intercontinental Exchange were worth $124,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after acquiring an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC lifted its holdings in shares of Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 4,787 shares during the last quarter. M&T Bank Corp lifted its holdings in shares of Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its holdings in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 0.1 %

NYSE ICE opened at $172.64 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $99.19 billion, a price-to-earnings ratio of 36.12, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company’s 50-day simple moving average is $162.53 and its two-hundred day simple moving average is $159.80. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $175.41.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.52 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%. Equities analysts forecast 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. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Insider Transactions at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lynn C. Martin sold 4,155 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.60, for a total transaction of $688,068.00. Following the completion of the transaction, the insider now directly owns 57,376 shares in the company, valued at approximately $9,501,465.60. The trade was a 6.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange 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.