Pictet North America Advisors SA Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Pictet North America Advisors SA trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 33.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,899 shares of the financial services provider’s stock after selling 2,414 shares during the period. Pictet North America Advisors SA’s holdings in Intercontinental Exchange were worth $730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. V Square Quantitative Management LLC lifted its holdings in Intercontinental Exchange by 9.4% during the 4th quarter. V Square Quantitative Management LLC now owns 10,437 shares of the financial services provider’s stock worth $1,555,000 after buying an additional 899 shares during the last quarter. Compagnie Lombard Odier SCmA lifted its stake in Intercontinental Exchange by 160.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 479,463 shares of the financial services provider’s stock worth $71,445,000 after purchasing an additional 295,407 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Intercontinental Exchange by 8.9% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 12,747 shares of the financial services provider’s stock worth $1,899,000 after purchasing an additional 1,047 shares during the period. Asset Management One Co. Ltd. increased its stake in Intercontinental Exchange by 1.2% during the fourth quarter. Asset Management One Co. Ltd. now owns 222,457 shares of the financial services provider’s stock valued at $33,440,000 after purchasing an additional 2,588 shares during the last quarter. Finally, Avestar Capital LLC raised its stake in Intercontinental Exchange by 7.9% during the fourth quarter. Avestar Capital LLC now owns 3,077 shares of the financial services provider’s stock worth $459,000 after acquiring an additional 226 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

ICE stock opened at $168.81 on Friday. The company has a market capitalization of $96.93 billion, a price-to-earnings ratio of 35.32, a P/E/G ratio of 3.21 and a beta of 1.11. The firm has a 50 day moving average of $153.95 and a two-hundred day moving average of $157.37. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $169.75.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate 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, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.63 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 37.66%.

Insider Buying and Selling at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now directly 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 can be accessed through the SEC website. Also, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the sale, the senior vice president now owns 21,992 shares in the company, valued at approximately $3,661,008.24. The trade was a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock worth $5,535,650 over the last ninety days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays boosted their target price 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. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, UBS Group raised their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

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.