Cibc World Market Inc. Lowers Stock Position in Intercontinental Exchange Inc. $ICE

Cibc World Market Inc. reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 9.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,957 shares of the financial services provider’s stock after selling 7,362 shares during the period. Cibc World Market Inc.’s holdings in Intercontinental Exchange were worth $11,786,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ICE. Norges Bank bought a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $1,542,780,000. Sands Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock valued at $974,783,000 after acquiring an additional 2,620,310 shares in the last quarter. C WorldWide Group Holding A S increased its position in shares of Intercontinental Exchange by 29,199.5% during the second quarter. C WorldWide Group Holding A S now owns 1,652,201 shares of the financial services provider’s stock valued at $303,129,000 after acquiring an additional 1,646,562 shares during the last quarter. Mawer Investment Management Ltd. lifted its holdings in Intercontinental Exchange by 179.1% during the third quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock worth $416,544,000 after acquiring an additional 1,586,620 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Intercontinental Exchange by 55.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,781,542 shares of the financial services provider’s stock worth $510,330,000 after purchasing an additional 994,316 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ICE. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. UBS Group restated a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $195.40.

Insider Activity at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 4,722 shares of the stock in a transaction dated Thursday, February 5th. The shares were sold at an average price of $169.19, for a total value of $798,915.18. Following the sale, the director directly owned 9,747 shares of the company’s stock, valued at approximately $1,649,094.93. This represents a 32.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Mayur Kapani sold 5,345 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $156.67, for a total transaction of $837,401.15. Following the sale, the chief technology officer directly owned 65,240 shares in the company, valued at $10,221,150.80. This trade represents a 7.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 181,570 shares of company stock worth $28,077,452 in the last 90 days. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

ICE opened at $149.82 on Friday. The firm has a 50-day moving average price of $165.35 and a 200-day moving average price of $165.86. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $85.08 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.58 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the firm earned $1.52 EPS. Intercontinental Exchange’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

About Intercontinental Exchange

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.