Daiwa Securities Group Inc. Sells 9,070 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Daiwa Securities Group Inc. lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 98,142 shares of the financial services provider’s stock after selling 9,070 shares during the period. Daiwa Securities Group Inc.’s holdings in Intercontinental Exchange were worth $14,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Strategic Advisors LLC raised its holdings in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after buying an additional 66 shares in the last quarter. Commons Capital LLC raised its stake in Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after buying an additional 69 shares during the last quarter. Brooklyn Investment Group lifted its stake in shares of Intercontinental Exchange by 2.2% in the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 70 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in shares of Intercontinental Exchange by 3.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock worth $294,000 after buying an additional 70 shares in the last quarter. Finally, Sprott Inc. boosted its stake in Intercontinental Exchange by 2.4% during the fourth quarter. Sprott Inc. now owns 3,085 shares of the financial services provider’s stock worth $460,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ICE. Deutsche Bank Aktiengesellschaft increased their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Activity at Intercontinental Exchange

In related news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,313 shares of company stock worth $11,113,733 in the last three months. 1.10% of the stock is owned by insiders.

Intercontinental Exchange Stock Down 0.6 %

ICE stock opened at $169.29 on Tuesday. The company’s 50 day moving average is $159.86 and its 200 day moving average is $159.38. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $97.27 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

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.