Picton Mahoney Asset Management Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Picton Mahoney Asset Management decreased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 142,955 shares of the financial services provider’s stock after selling 5,530 shares during the period. Intercontinental Exchange makes up 0.5% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 26th largest holding. Picton Mahoney Asset Management’s holdings in Intercontinental Exchange were worth $18,360,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Everpar Advisors LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $345,000. Gryphon Financial Partners LLC increased its stake in shares of Intercontinental Exchange by 38.9% in the 4th quarter. Gryphon Financial Partners LLC now owns 4,356 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 1,220 shares in the last quarter. Moss Adams Wealth Advisors LLC lifted its position in Intercontinental Exchange by 5.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 4,114 shares of the financial services provider’s stock valued at $528,000 after acquiring an additional 220 shares during the period. Simmons Bank boosted its stake in Intercontinental Exchange by 4.1% during the fourth quarter. Simmons Bank now owns 27,832 shares of the financial services provider’s stock worth $3,574,000 after acquiring an additional 1,090 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Intercontinental Exchange by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,009,313 shares of the financial services provider’s stock worth $386,486,000 after acquiring an additional 78,138 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

ICE traded up $2.44 during midday trading on Tuesday, hitting $133.72. 2,381,926 shares of the company traded hands, compared to its average volume of 2,417,967. The company’s 50-day moving average is $134.78 and its 200 day moving average is $126.35. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $76.70 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting the consensus estimate of $1.48. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The firm’s quarterly revenue was up 20.8% on a year-over-year basis. On average, research analysts expect that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. Intercontinental Exchange’s payout ratio is 41.28%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 341 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now directly owns 48,713 shares of the company’s stock, valued at $6,417,450.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 341 shares of Intercontinental Exchange stock in a transaction on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the transaction, the general counsel now owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. Insiders have sold a total of 157,832 shares of company stock worth $21,499,127 in the last ninety days. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday. Keefe, Bruyette & Woods lowered their price objective on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday. Barclays dropped their target price on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday. Citigroup raised their price target on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.92.

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.