Toronto Dominion Bank Trims Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Toronto Dominion Bank cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 294,860 shares of the financial services provider's stock after selling 15,700 shares during the quarter. Toronto Dominion Bank owned about 0.05% of Intercontinental Exchange worth $43,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its position in shares of Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock valued at $11,022,000 after buying an additional 4,787 shares during the last quarter. Governors Lane LP raised its stake in shares of Intercontinental Exchange by 88.0% in the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after buying an additional 59,500 shares during the period. Avantra Family Wealth Inc. purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth $702,000. National Pension Service increased its stake in shares of Intercontinental Exchange by 19.1% in the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after purchasing an additional 198,311 shares in the last quarter. Finally, Hahn Capital Management LLC raised its stake in Intercontinental Exchange by 69.8% during the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock valued at $10,600,000 after purchasing an additional 29,233 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Barclays upped their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Bank of America reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of "Moderate Buy" and an average target price of $185.93.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 17,104 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the transaction, the president now directly owns 155,174 shares of the company's stock, valued at approximately $25,855,091.88. The trade was a 9.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now directly owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,468 shares of company stock worth $5,763,545 in the last 90 days. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $0.54 during mid-day trading on Tuesday, reaching $176.21. The stock had a trading volume of 2,150,776 shares, compared to its average volume of 2,978,088. Intercontinental Exchange, Inc. has a 12-month low of $131.79 and a 12-month high of $179.44. The company has a market cap of $101.08 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The business has a 50-day simple moving average of $167.60 and a 200 day simple moving average of $161.52. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. The business's revenue for the quarter was up 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.09%. Intercontinental Exchange's payout ratio is currently 39.75%.

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.