ARK Investment Management LLC Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

ARK Investment Management LLC lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,923 shares of the financial services provider’s stock after selling 1,026 shares during the period. ARK Investment Management LLC’s holdings in Intercontinental Exchange were worth $9,972,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. boosted its position in Intercontinental Exchange by 13.8% during the third quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares in the last quarter. Integrated Advisors Network LLC boosted its position in Intercontinental Exchange by 4.0% during the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 66 shares in the last quarter. Strategic Advisors LLC boosted its position in Intercontinental Exchange by 5.1% during the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 66 shares in the last quarter. Commons Capital LLC boosted its position in Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC boosted its position in Intercontinental Exchange by 6.2% during the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ICE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft raised their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research report on Monday, November 11th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued 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 $178.80.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total transaction of $149,056.40. Following the completion of the transaction, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, 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. Over the last ninety days, insiders sold 60,368 shares of company stock worth $9,908,492. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Trading Up 1.7 %

Shares of NYSE:ICE opened at $171.25 on Wednesday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $171.61. The stock has a market cap of $98.40 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.11. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $156.07 and a 200-day moving average price of $158.46.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.12%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.