Picton Mahoney Asset Management Acquires 39,164 Shares of Intercontinental Exchange Inc. $ICE

Picton Mahoney Asset Management lifted its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 49.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 118,174 shares of the financial services provider’s stock after acquiring an additional 39,164 shares during the quarter. Picton Mahoney Asset Management’s holdings in Intercontinental Exchange were worth $19,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of ICE. Westside Investment Management Inc. purchased a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $29,000. Private Wealth Management Group LLC raised its stake in Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. Knuff & Co LLC lifted its holdings in shares of Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after buying an additional 74 shares during the period. Caitlin John LLC bought a new stake in shares of Intercontinental Exchange in the third quarter worth $32,000. Finally, Cornerstone Planning Group LLC lifted its holdings in Intercontinental Exchange by 128.6% in 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 during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Morgan Stanley set a $183.00 price objective on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Raymond James Financial reiterated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $195.40.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the sale, the chief executive officer owned 1,651,705 shares of the company’s stock, valued at approximately $256,014,275. The trade was a 8.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 359,063 shares of company stock valued at $55,879,604. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $164.74 on Wednesday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a 50 day moving average of $164.59 and a two-hundred day moving average of $163.06. 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 cap of $93.56 billion, a price-to-earnings ratio of 28.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 EPS. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Intercontinental Exchange 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.