Proffitt & Goodson Inc. Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Proffitt & Goodson Inc. lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,940 shares of the financial services provider’s stock after selling 65 shares during the quarter. Proffitt & Goodson Inc.’s holdings in Intercontinental Exchange were worth $1,183,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its position 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 period. Kestra Private Wealth Services LLC raised its holdings in shares of Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after buying an additional 4,787 shares during the period. M&T Bank Corp raised its holdings in shares of Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after buying an additional 11,648 shares during the period. Avantra Family Wealth Inc. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $702,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after buying an additional 61,110 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This represents a 2.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,268 shares of company stock valued at $11,262,789 in the last three months. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Up 1.4 %

NYSE:ICE opened at $173.21 on Friday. The stock has a 50-day simple moving average of $157.41 and a 200-day simple moving average of $158.76. The stock has a market cap of $99.52 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $173.54. 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 released its quarterly earnings data 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 anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.11%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barclays boosted their price objective on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Company 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.