Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,955 shares of the financial services provider’s stock after selling 5,530 shares during the period. Intercontinental Exchange accounts for approximately 0.5% of Picton Mahoney Asset Management’s holdings, making the stock its 26th biggest position. Picton Mahoney Asset Management’s holdings in Intercontinental Exchange were worth $18,360,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. OFI Invest Asset Management acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at $25,000. Jones Financial Companies Lllp purchased a new position in Intercontinental Exchange in the 3rd quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $28,000. Stuart Chaussee & Associates Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $28,000. Finally, BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ICE has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday. Citigroup increased their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Piper Sandler upped their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, Barclays reduced their price objective on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average price target of $147.92.

Insider Activity

In other news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the completion of the sale, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,832 shares of company stock valued at $21,499,127. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Up 1.9 %

Shares of NYSE ICE traded up $2.44 during trading hours on Tuesday, hitting $133.72. The stock had a trading volume of 2,381,926 shares, compared to its average volume of 2,417,967. The firm’s 50-day moving average price is $134.78 and its two-hundred day moving average price is $126.35. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a market capitalization of $76.70 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.14 and a beta of 1.02. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s revenue was up 20.8% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th 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 1.35%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s dividend payout ratio is 41.28%.

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.