Connor Clark & Lunn Investment Management Ltd. Has $26.58 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 31.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 178,344 shares of the financial services provider’s stock after selling 82,652 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Intercontinental Exchange were worth $26,575,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its stake in shares of Intercontinental Exchange by 326.3% in the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after acquiring an additional 3,460,096 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $406,728,000. FMR LLC increased its position in Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Swedbank AB raised its stake in shares of Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares in the last quarter. Finally, AMF Tjanstepension AB raised its stake in shares of Intercontinental Exchange by 1,237.7% during the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock worth $253,591,000 after purchasing an additional 1,574,386 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity at Intercontinental Exchange

In other news, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,313 shares of company stock worth $11,113,733 over the last three months. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ICE. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. UBS Group raised their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE opened at $169.04 on Thursday. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $175.41. The company has a market cap of $97.13 billion, a P/E ratio of 35.36, a P/E/G ratio of 2.10 and a beta of 1.08. The business’s 50 day moving average is $160.64 and its two-hundred day moving average is $159.50. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Intercontinental Exchange Company Profile

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.