Cortland Associates Inc. MO Sells 2,446 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Cortland Associates Inc. MO decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,591 shares of the financial services provider’s stock after selling 2,446 shares during the period. Intercontinental Exchange comprises approximately 1.9% of Cortland Associates Inc. MO’s holdings, making the stock its 18th largest holding. Cortland Associates Inc. MO’s holdings in Intercontinental Exchange were worth $16,330,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Wealth Enhancement Advisory Services LLC grew its stake in Intercontinental Exchange by 1.1% in 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 purchasing an additional 366 shares during the last quarter. M&T Bank Corp grew its stake in Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. grew its stake 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. Toronto Dominion Bank grew its stake in Intercontinental Exchange by 1.6% in the third quarter. Toronto Dominion Bank now owns 310,560 shares of the financial services provider’s stock valued at $49,888,000 after purchasing an additional 4,973 shares during the last quarter. Finally, Bright Rock Capital Management LLC purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $4,470,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE opened at $157.25 on Thursday. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $167.99. The stock has a market cap of $90.29 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 2.95 and a beta of 1.10. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a fifty day moving average price of $153.07 and a 200 day moving average price of $156.32.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 EPS for the current year.

Insider Activity

In other news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $160.00, for a total transaction of $932,480.00. Following the transaction, the president now directly owns 156,163 shares in the company, valued at $24,986,080. The trade was a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,795 shares of company stock valued at $2,120,572. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ICE. Bank of America upped their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. Barclays cut their target price on Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. The Goldman Sachs Group increased their price target on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley increased their price target on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $175.27.

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.