CCLA Investment Management Sells 75,487 Shares of Intercontinental Exchange Inc. $ICE

CCLA Investment Management decreased its position in Intercontinental Exchange Inc. (NYSE:ICE) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 834,672 shares of the financial services provider’s stock after selling 75,487 shares during the quarter. Intercontinental Exchange accounts for 2.2% of CCLA Investment Management’s portfolio, making the stock its 17th biggest holding. CCLA Investment Management owned approximately 0.15% of Intercontinental Exchange worth $135,208,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ICE. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after buying an additional 4,067,922 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of Intercontinental Exchange by 179.1% during the 3rd quarter. Mawer Investment Management Ltd. now owns 2,472,366 shares of the financial services provider’s stock valued at $416,544,000 after purchasing an additional 1,586,620 shares during the last quarter. Waverton Investment Management Ltd increased its position in shares of Intercontinental Exchange by 28,886.8% during the 3rd quarter. Waverton Investment Management Ltd now owns 1,526,734 shares of the financial services provider’s stock valued at $257,163,000 after purchasing an additional 1,521,467 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Intercontinental Exchange by 503.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,133,892 shares of the financial services provider’s stock valued at $191,038,000 after purchasing an additional 946,065 shares during the last quarter. Finally, Capital World Investors increased its position in shares of Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of ICE opened at $167.97 on Thursday. The company has a market cap of $95.14 billion, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 1.75 and a beta of 1.03. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $160.79 and a two-hundred day moving average of $160.40.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly 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. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company earned $1.52 earnings per share. The company’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.2%. Intercontinental Exchange’s dividend payout ratio is 36.05%.

Analyst Ratings Changes

Several research firms have recently weighed in on ICE. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating and set a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. UBS Group reiterated a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $191.80.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 11,303 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the completion of the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at $2,194,396.12. This represents a 44.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 12,861 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the transaction, the president directly owned 165,692 shares of the company’s stock, valued at approximately $27,339,180. This represents a 7.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Profile

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.