Intercontinental Exchange, Inc. (NYSE:ICE) Position Trimmed by Platinum Investment Management Ltd.

Platinum Investment Management Ltd. lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 837,424 shares of the financial services provider’s stock after selling 125,161 shares during the quarter. Intercontinental Exchange comprises 7.3% of Platinum Investment Management Ltd.’s portfolio, making the stock its 4th largest position. Platinum Investment Management Ltd. owned approximately 0.15% of Intercontinental Exchange worth $124,785,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $25,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $31,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $40,000. Golden State Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $51,000. Finally, Hanson & Doremus Investment Management bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price objective 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. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $178.80.

Insider Transactions at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of the firm’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 transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock valued at $10,998,990 over the last three months. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 0.1 %

ICE opened at $172.64 on Wednesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41. The company has a market capitalization of $99.19 billion, a PE ratio of 36.12, a PEG ratio of 2.10 and a beta of 1.08. The firm’s 50 day simple moving average is $162.53 and its two-hundred day simple moving average is $159.80.

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 analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed 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. 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 1.11%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 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.