Mawer Investment Management Ltd. Decreases Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Mawer Investment Management Ltd. lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,793,566 shares of the financial services provider’s stock after selling 407,596 shares during the period. Intercontinental Exchange comprises about 1.9% of Mawer Investment Management Ltd.’s holdings, making the stock its 16th largest holding. Mawer Investment Management Ltd. owned approximately 0.49% of Intercontinental Exchange worth $416,269,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sierra Ocean LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange during the 3rd quarter valued at $31,000. Lee Danner & Bass Inc. purchased a new stake in Intercontinental Exchange during the 4th quarter valued at $34,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange in the 4th quarter worth $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Intercontinental Exchange in the fourth quarter valued at about $45,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

ICE opened at $174.65 on Friday. The company’s 50-day simple moving average is $167.12 and its two-hundred day simple moving average is $160.56. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The stock has a market capitalization of $100.35 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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%. As a group, analysts predict 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. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. 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. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the transaction, the insider now directly owns 17,972 shares in the company, valued at approximately $3,001,144.28. This trade represents a 27.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the sale, the president now directly owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. The trade was a 9.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by insiders.

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.