Cibc World Market Inc. Has $11.79 Million Position in Intercontinental Exchange Inc. $ICE

Cibc World Market Inc. cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,957 shares of the financial services provider’s stock after selling 7,362 shares during the period. Cibc World Market Inc.’s holdings in Intercontinental Exchange were worth $11,786,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. Dynasty Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter worth about $897,000. Rockland Trust Co. boosted its holdings in Intercontinental Exchange by 19.7% in the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock valued at $21,507,000 after acquiring an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock valued at $2,008,000 after purchasing an additional 3,261 shares during the period. Eastern Bank raised its holdings in Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after purchasing an additional 25,980 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in shares of Intercontinental Exchange by 1.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock worth $152,603,000 after purchasing an additional 13,497 shares during the period. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Trading Down 1.4%

NYSE ICE opened at $149.82 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The business has a 50 day moving average price of $165.35 and a 200-day moving average price of $165.86. The company has a market cap of $85.08 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 1.58 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.4%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 33.28%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ICE. Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. UBS Group restated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday. Finally, Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and a consensus target price of $195.40.

Insiders Place Their Bets

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $153.08, for a total value of $22,962,000.00. Following the transaction, the chief executive officer owned 1,801,705 shares in the company, valued at $275,805,001.40. This trade represents a 7.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 1,770 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $152.52, for a total value of $269,960.40. Following the transaction, the general counsel directly owned 44,212 shares in the company, valued at approximately $6,743,214.24. The trade was a 3.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 181,570 shares of company stock worth $28,077,452 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.