Iridian Asset Management LLC CT Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Iridian Asset Management LLC CT lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,364 shares of the financial services provider’s stock after selling 2,113 shares during the period. Iridian Asset Management LLC CT’s holdings in Intercontinental Exchange were worth $3,332,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its position in shares of Intercontinental Exchange by 1,470.0% during the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Intercontinental Exchange in the 3rd quarter valued at about $26,000. Financial Management Professionals Inc. lifted its holdings in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Intercontinental Exchange during the third quarter worth about $29,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth about $31,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $167.37 on Friday. The business’s 50-day moving average price is $153.11 and its 200-day moving average price is $156.74. The firm has a market capitalization of $96.10 billion, a PE ratio of 39.66, a price-to-earnings-growth ratio of 3.06 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $169.75. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.48 dividend. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s payout ratio is currently 42.65%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. 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 reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. One investment 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total value of $932,480.00. Following the transaction, the president now owns 156,163 shares in the company, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,795 shares of company stock worth $2,120,572 over the last three months. Company insiders own 1.10% of the company’s stock.

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.