Westpac Banking Corp Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Westpac Banking Corp trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 13.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,844 shares of the financial services provider’s stock after selling 7,666 shares during the period. Westpac Banking Corp’s holdings in Intercontinental Exchange were worth $7,576,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in ICE. Nicolet Advisory Services LLC grew its stake in Intercontinental Exchange by 2.3% during the fourth quarter. Nicolet Advisory Services LLC now owns 7,406 shares of the financial services provider’s stock valued at $1,058,000 after acquiring an additional 168 shares in the last quarter. Cinctive Capital Management LP grew its position in shares of Intercontinental Exchange by 47.8% during the fourth quarter. Cinctive Capital Management LP now owns 13,078 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 4,232 shares in the last quarter. Bryce Point Capital LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $552,000. Kesler Norman & Wride LLC increased its holdings in shares of Intercontinental Exchange by 0.7% in the fourth quarter. Kesler Norman & Wride LLC now owns 51,555 shares of the financial services provider’s stock worth $7,683,000 after purchasing an additional 383 shares during the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in shares of Intercontinental Exchange by 0.8% in the fourth quarter. Meeder Advisory Services Inc. now owns 10,254 shares of the financial services provider’s stock worth $1,528,000 after buying an additional 82 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.6 %

Shares of NYSE ICE opened at $170.43 on Thursday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The firm has a market capitalization of $97.92 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.10 and a beta of 1.08. The stock has a 50 day moving average price of $168.31 and a 200 day moving average price of $160.78. 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 released its quarterly earnings data 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%. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction 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 sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ICE. Barclays lifted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased 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, Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.47.

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.