CIBC Asset Management Inc Boosts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

CIBC Asset Management Inc grew its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,987 shares of the financial services provider’s stock after purchasing an additional 3,430 shares during the quarter. CIBC Asset Management Inc’s holdings in Intercontinental Exchange were worth $28,262,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Intercontinental Exchange by 7.5% in the first quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock worth $6,978,218,000 after acquiring an additional 3,536,913 shares during the period. Legal & General Group Plc grew its holdings in Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock valued at $609,609,000 after purchasing an additional 191,763 shares during the period. Clearbridge Investments LLC increased its position in Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after buying an additional 284,664 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Intercontinental Exchange by 0.7% in the first quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock valued at $384,122,000 after buying an additional 19,127 shares during the period. Finally, Raymond James & Associates lifted its position in shares of Intercontinental Exchange by 11.1% during the 3rd quarter. Raymond James & Associates now owns 2,535,785 shares of the financial services provider’s stock valued at $407,348,000 after buying an additional 253,324 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the transaction, the general counsel now directly owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 4.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the sale, the chief financial officer now owns 16,576 shares of the company’s stock, valued at $2,675,863.68. The trade was a 4.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,489 shares of company stock valued at $1,202,259. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several recent research reports. The Goldman Sachs Group lifted their price objective on Intercontinental Exchange from $171.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. TD Cowen assumed coverage on shares of Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 target price for the company. Morgan Stanley boosted their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Finally, Raymond James lowered shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective for the company. in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $174.13.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $155.55 on Friday. The business has a 50-day simple moving average of $161.07 and a 200 day simple moving average of $149.75. Intercontinental Exchange, Inc. has a 52 week low of $110.64 and a 52 week high of $167.99. The stock has a market cap of $89.31 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 2.57 and a beta of 1.08. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.68.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 earnings per share. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.65%.

Intercontinental Exchange 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.