Retirement Systems of Alabama Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Retirement Systems of Alabama decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,314 shares of the financial services provider’s stock after selling 909 shares during the quarter. Retirement Systems of Alabama’s holdings in Intercontinental Exchange were worth $18,524,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of 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. M&T Bank Corp increased its holdings 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 buying an additional 11,648 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its position in shares of Intercontinental Exchange by 9.2% during 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 acquiring an additional 61,110 shares during the period. Avantra Family Wealth Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $702,000. Finally, Toronto Dominion Bank increased its stake in Intercontinental Exchange by 1.6% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $167.37 on Friday. The stock has a fifty day moving average price of $153.11 and a 200 day moving average price of $156.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $169.75. The firm has a market capitalization of $96.10 billion, a P/E ratio of 39.66, a PEG ratio of 3.06 and a beta of 1.11.

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 the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.45. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.65%.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction on Tuesday, December 10th. The shares were 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 owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,795 shares of company stock valued at $2,120,572 in the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on ICE shares. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price objective on shares of Intercontinental Exchange from $183.00 to $178.00 and set an “outperform” rating on the stock in a research report on Monday, January 13th. Barclays dropped their target price on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating for the company in a report on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.27.

Intercontinental Exchange 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.