Intercontinental Exchange, Inc. (NYSE:ICE) Position Trimmed by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 80.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 182 shares of the financial services provider’s stock after selling 730 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Intercontinental Exchange were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ICE. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $25,000. FSA Wealth Management LLC acquired a new position in shares of Intercontinental Exchange in the third quarter worth $31,000. BankPlus Trust Department purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth $40,000. Golden State Wealth Management LLC acquired a new stake in Intercontinental Exchange during the fourth quarter valued at $51,000. Finally, Hanson & Doremus Investment Management purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $55,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group raised their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insiders Place Their Bets

In related news, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the sale, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the transaction, the president now owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Trading Down 0.7 %

Shares of ICE stock opened at $174.42 on Monday. The firm has a market capitalization of $100.22 billion, a P/E ratio of 36.49, 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 $175.99. The firm’s fifty day simple moving average is $164.29 and its 200 day simple moving average is $160.07. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS 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%. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given 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 dividend yield of 1.10%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.