Mad River Investors Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mad River Investors decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,470 shares of the financial services provider’s stock after selling 155 shares during the quarter. Intercontinental Exchange comprises approximately 0.5% of Mad River Investors’ investment portfolio, making the stock its 19th largest holding. Mad River Investors’ holdings in Intercontinental Exchange were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ICE. Wealth Enhancement Advisory Services LLC increased its stake in Intercontinental Exchange by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock valued at $5,647,000 after purchasing an additional 366 shares during the period. M&T Bank Corp boosted its position in Intercontinental Exchange by 33.2% during the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. raised its holdings in 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 valued at $108,515,000 after acquiring an additional 61,110 shares during the last quarter. Toronto Dominion Bank lifted its position in Intercontinental Exchange by 1.6% during the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock worth $49,888,000 after buying an additional 4,973 shares during the period. Finally, Bright Rock Capital Management LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $4,470,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total value of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This represents a 3.60 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,795 shares of company stock worth $2,120,572. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Stock Down 0.8 %

Intercontinental Exchange stock opened at $149.07 on Tuesday. The company’s 50 day simple moving average is $153.20 and its 200 day simple moving average is $155.73. The firm has a market capitalization of $85.59 billion, a price-to-earnings ratio of 35.33, a PEG ratio of 2.84 and a beta of 1.10. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $167.99. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.55. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.46 EPS. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.06 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ICE shares. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday. Barclays reduced their price target on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Bank of America increased their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $175.27.

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.