TD Asset Management Inc Trims Stock Holdings in Intercontinental Exchange Inc. $ICE

TD Asset Management Inc lowered its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 6.6% in the third quarter, Holdings Channel.com reports. The fund owned 231,544 shares of the financial services provider’s stock after selling 16,249 shares during the quarter. TD Asset Management Inc’s holdings in Intercontinental Exchange were worth $39,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Westside Investment Management Inc. bought a new position in shares of Intercontinental Exchange in the second quarter worth about $29,000. Private Wealth Management Group LLC grew its stake in Intercontinental Exchange by 59.5% in the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 66 shares in the last quarter. Knuff & Co LLC increased its position in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 74 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of Intercontinental Exchange by 128.6% during the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 153 shares in the last quarter. Finally, Capital A Wealth Management LLC boosted its holdings in shares of Intercontinental Exchange by 26,000.0% in the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 260 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the transaction, the president directly owned 165,692 shares of the company’s stock, valued at $27,339,180. This represents a 7.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 354,492 shares of company stock worth $55,139,102 over the last quarter. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $164.05 on Friday. The company has a market capitalization of $93.17 billion, a PE ratio of 28.43, a P/E/G ratio of 1.70 and a beta of 1.02. The company has a 50-day simple moving average of $164.47 and a two-hundred day simple moving average of $163.57. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last posted 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. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates 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 was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.52 EPS. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given 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 (DPR) is presently 33.28%.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. One investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $195.40.

Intercontinental Exchange Company 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.