Thompson Investment Management Inc. Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Thompson Investment Management Inc. trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,928 shares of the financial services provider’s stock after selling 1,176 shares during the quarter. Thompson Investment Management Inc.’s holdings in Intercontinental Exchange were worth $5,652,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ICE shares. Barclays boosted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday. Raymond James lowered Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a report on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.80.

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 value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,795 shares of company stock worth $2,120,572. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE opened at $166.95 on Friday. The company has a market capitalization of $95.86 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 1.00. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $169.75. The business has a 50 day moving average price of $153.35 and a two-hundred day moving average price of $156.93.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.63 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 37.66%.

About Intercontinental Exchange

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.