Daiwa Securities Group Inc. Sells 9,070 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Daiwa Securities Group Inc. lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 98,142 shares of the financial services provider’s stock after selling 9,070 shares during the period. Daiwa Securities Group Inc.’s holdings in Intercontinental Exchange were worth $14,624,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ICE. State Street Corp raised its position in Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after acquiring an additional 281,503 shares during the period. Geode Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after purchasing an additional 169,922 shares in the last quarter. FMR LLC raised its holdings 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 period. Parnassus Investments LLC raised its holdings in Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares during the period. Finally, Franklin Resources Inc. lifted its position in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the sale, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,313 shares of company stock worth $11,113,733 over the last 90 days. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ICE. UBS Group upped their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Trading Down 0.6 %

Shares of ICE stock opened at $169.29 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $97.27 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $175.41. The stock’s 50-day moving average price is $159.86 and its 200-day moving average price is $159.38.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

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.