Westpac Banking Corp Lowers Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Westpac Banking Corp lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 13.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its position in Intercontinental Exchange by 1.1% during 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 buying an additional 366 shares during the period. Kestra Private Wealth Services LLC grew its position in Intercontinental Exchange by 6.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after acquiring an additional 4,787 shares during the last quarter. M&T Bank Corp grew its position in Intercontinental Exchange by 33.2% during the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock worth $7,500,000 after acquiring an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after purchasing an additional 61,110 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the business’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 sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,563 shares of company stock worth $10,998,990. Company insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. JPMorgan Chase & Co. dropped 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. Finally, UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

Intercontinental Exchange Trading Down 0.6 %

NYSE:ICE opened at $170.43 on Thursday. The firm has a market capitalization of $97.92 billion, a P/E ratio of 35.65, a PEG ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The company’s 50-day simple moving average is $168.31 and its 200 day simple moving average is $160.78.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.