National Bank of Canada FI Sells 79,602 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

National Bank of Canada FI reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,104 shares of the financial services provider's stock after selling 79,602 shares during the period. National Bank of Canada FI's holdings in Intercontinental Exchange were worth $30,867,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vinva Investment Management Ltd lifted its holdings in shares of Intercontinental Exchange by 0.6% during the third quarter. Vinva Investment Management Ltd now owns 16,736 shares of the financial services provider's stock valued at $1,855,000 after purchasing an additional 93 shares during the last quarter. Timber Creek Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 0.3% during the fourth quarter. Timber Creek Capital Management LLC now owns 34,466 shares of the financial services provider's stock valued at $4,426,000 after purchasing an additional 94 shares during the last quarter. HBK Sorce Advisory LLC lifted its holdings in shares of Intercontinental Exchange by 4.8% during the third quarter. HBK Sorce Advisory LLC now owns 2,116 shares of the financial services provider's stock valued at $233,000 after purchasing an additional 97 shares during the last quarter. West Coast Financial LLC lifted its holdings in shares of Intercontinental Exchange by 4.6% during the fourth quarter. West Coast Financial LLC now owns 2,248 shares of the financial services provider's stock valued at $289,000 after purchasing an additional 98 shares during the last quarter. Finally, Savant Capital LLC lifted its holdings in shares of Intercontinental Exchange by 1.5% during the third quarter. Savant Capital LLC now owns 6,946 shares of the financial services provider's stock valued at $764,000 after purchasing an additional 100 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 1.9 %

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

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

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be paid 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 yield of 1.35%. Intercontinental Exchange's payout ratio is 41.28%.

Insider Activity at Intercontinental Exchange

In related news, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the sale, the insider now owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth Kathryn King sold 3,783 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the completion of the sale, the insider now owns 17,242 shares of the company's stock, valued at approximately $2,276,461.26. The disclosure for this sale can be found here. Insiders sold a total of 157,832 shares of company stock worth $21,499,127 in the last 90 days. 1.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ICE. Piper Sandler upped their target price on Intercontinental Exchange from $135.00 to $149.00 and gave the company an "overweight" rating in a report on Monday, February 12th. Bank of America dropped their price target on Intercontinental Exchange from $156.00 to $153.00 and set a "buy" rating on the stock in a research report on Friday, April 19th. Rosenblatt Securities reissued a "buy" rating and set a $164.00 price target on shares of Intercontinental Exchange in a research report on Friday. JPMorgan Chase & Co. upped their price target on Intercontinental Exchange from $147.00 to $151.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $139.00 to $142.00 and gave the company an "equal weight" rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $147.92.

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.