CIBC Private Wealth Group LLC Sells 28,270 Shares of Intercontinental Exchange Inc. $ICE

CIBC Private Wealth Group LLC decreased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,376,441 shares of the financial services provider’s stock after selling 28,270 shares during the period. CIBC Private Wealth Group LLC’s holdings in Intercontinental Exchange were worth $400,383,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Dynasty Wealth Management LLC purchased a new stake in Intercontinental Exchange in the 3rd quarter worth about $897,000. Rockland Trust Co. boosted its position in Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after purchasing an additional 20,981 shares during the period. Fifth Third Wealth Advisors LLC boosted its position in Intercontinental Exchange by 37.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after purchasing an additional 3,261 shares during the period. Eastern Bank increased its stake in shares of Intercontinental Exchange by 14.6% in the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after purchasing an additional 25,980 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its position in shares of Intercontinental Exchange by 1.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after purchasing an additional 13,497 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 12,861 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the transaction, the president owned 165,692 shares of the company’s stock, valued at $27,339,180. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the sale, the insider owned 54,319 shares in the company, valued at $8,357,521.34. The trade was a 19.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 348,418 shares of company stock worth $54,196,631. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $160.77 on Wednesday. The company has a market cap of $91.30 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.74 and a beta of 1.04. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average price of $164.33 and a 200-day moving average price of $161.89. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is presently 36.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ICE. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the stock an “equal weight” rating in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a report on Friday, March 6th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $194.73.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.