Egerton Capital UK LLP Cuts Stock Position in Intercontinental Exchange Inc. $ICE

Egerton Capital UK LLP trimmed its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,036,199 shares of the financial services provider’s stock after selling 43,712 shares during the quarter. Intercontinental Exchange accounts for 1.8% of Egerton Capital UK LLP’s portfolio, making the stock its 18th biggest holding. Egerton Capital UK LLP’s holdings in Intercontinental Exchange were worth $174,579,000 as of its most recent filing with the Securities and Exchange Commission.

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

Intercontinental Exchange Price Performance

NYSE ICE opened at $164.05 on Friday. The stock has a market cap of $93.17 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.70 and a beta of 1.02. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company’s 50 day moving average is $164.47 and its two-hundred day moving average is $163.57. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating 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 firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period last year, the firm earned $1.52 EPS. The company’s revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ICE shares. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the stock an “overweight” rating in a report on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $195.40.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $153.73, for a total value of $594,166.45. Following the sale, the president owned 165,304 shares in the company, valued at $25,412,183.92. The trade was a 2.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This trade represents a 44.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 354,492 shares of company stock valued at $55,139,102. Company insiders own 1.00% of the company’s stock.

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.