Intercontinental Exchange Inc. $ICE Shares Sold by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 100,555 shares of the financial services provider’s stock after selling 5,002 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $16,936,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 1,169 shares in the last quarter. Empowered Funds LLC raised its holdings in Intercontinental Exchange by 9.0% in the first quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider’s stock valued at $2,483,000 after acquiring an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Intercontinental Exchange by 16.2% in the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider’s stock valued at $381,000 after acquiring an additional 289 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Intercontinental Exchange in the second quarter worth approximately $313,000. Finally, Westside Investment Management Inc. acquired a new position in Intercontinental Exchange during the 2nd quarter worth approximately $29,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares of the company’s stock, valued at $8,357,521.34. This represents a 19.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 359,063 shares of company stock valued at $55,879,604. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ICE shares. UBS Group restated a “buy” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $195.40.

Intercontinental Exchange Trading Up 0.9%

Shares of Intercontinental Exchange stock opened at $166.24 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $94.41 billion, a P/E ratio of 28.81, a PEG ratio of 1.72 and a beta of 1.03. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company’s fifty day moving average is $164.66 and its two-hundred day moving average is $163.09.

Intercontinental Exchange (NYSE:ICE) last announced 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 business had revenue of $3.14 billion during 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%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders 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 dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 33.28%.

About Intercontinental Exchange

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.