Bancreek Capital Management LP Trims Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Bancreek Capital Management LP cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 44.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,042 shares of the financial services provider's stock after selling 26,625 shares during the quarter. Intercontinental Exchange accounts for 4.8% of Bancreek Capital Management LP's portfolio, making the stock its 13th biggest holding. Bancreek Capital Management LP's holdings in Intercontinental Exchange were worth $4,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Intercontinental Exchange by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock valued at $5,647,000 after purchasing an additional 366 shares during the period. Kestra Private Wealth Services LLC increased its stake in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock valued at $11,022,000 after purchasing an additional 4,787 shares in the last quarter. M&T Bank Corp increased its stake in Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider's stock valued at $7,500,000 after purchasing an additional 11,648 shares in the last quarter. Avantra Family Wealth Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth $702,000. Finally, Dixon Mitchell Investment Counsel Inc. boosted its position in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after purchasing an additional 61,110 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

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Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now owns 66,548 shares of the company's stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the business's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the completion of the transaction, the president now owns 164,041 shares in the company, valued at $27,183,234.11. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 66,563 shares of company stock worth $10,998,990. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent research reports. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Barclays upped their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, February 7th. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $178.80.

Intercontinental Exchange Trading Up 0.0 %

ICE stock traded up $0.06 during trading on Wednesday, reaching $175.69. 2,575,102 shares of the stock traded hands, compared to its average volume of 2,601,582. The firm has a market capitalization of $100.95 billion, a PE ratio of 36.76, a P/E/G ratio of 2.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The business's 50 day moving average price is $165.53 and its 200-day moving average price is $160.26. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $176.74.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results 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%. As a group, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current 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 given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.09%. Intercontinental Exchange's dividend payout ratio (DPR) 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.