Dakota Wealth Management Lowers Holdings in Intercontinental Exchange Inc. $ICE

Dakota Wealth Management reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 88.8% during the third quarter, HoldingsChannel reports. The fund owned 4,481 shares of the financial services provider’s stock after selling 35,551 shares during the period. Dakota Wealth Management’s holdings in Intercontinental Exchange were worth $755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Norges Bank bought a new position in Intercontinental Exchange in the 2nd quarter valued at approximately $1,542,780,000. Sands Capital Management LLC boosted its position in shares of Intercontinental Exchange by 97.3% during the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after buying an additional 2,620,310 shares during the last quarter. C WorldWide Group Holding A S lifted its stake in Intercontinental Exchange by 29,199.5% during the 2nd quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock valued at $303,129,000 after acquiring an additional 1,646,562 shares during the period. Mawer Investment Management Ltd. grew its stake in shares of Intercontinental Exchange by 179.1% in the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after acquiring an additional 1,586,620 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Intercontinental Exchange by 55.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider’s stock valued at $510,330,000 after purchasing an additional 994,316 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, insider Lynn C. Martin sold 13,456 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the transaction, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the transaction, the chief financial officer owned 27,679 shares of the company’s stock, valued at $4,262,566. This trade represents a 8.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 354,492 shares of company stock worth $55,139,102 in the last 90 days. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 1.5%

Shares of NYSE ICE opened at $162.75 on Friday. The company has a 50 day simple moving average of $164.39 and a 200-day simple moving average of $163.72. The company has a market capitalization of $92.43 billion, a P/E ratio of 28.21, a P/E/G ratio of 1.67 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35.

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

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ICE shares. UBS Group reaffirmed a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $195.40.

About Intercontinental Exchange

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.