Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 31.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,344 shares of the financial services provider's stock after selling 82,652 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Intercontinental Exchange were worth $26,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ICE. Sierra Ocean LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth about $25,000. FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $31,000. BankPlus Trust Department acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $40,000. Planning Capital Management Corp increased its stake in Intercontinental Exchange by 96.7% during the 3rd quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider's stock worth $48,000 after buying an additional 147 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $51,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 completion of the sale, the chief technology officer now directly owns 66,548 shares of the company's stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, the president now owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,313 shares of company stock valued at $11,113,733 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

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

Intercontinental Exchange Stock Performance

NYSE ICE traded up $0.04 during trading hours on Thursday, hitting $169.06. The company had a trading volume of 2,919,104 shares, compared to its average volume of 2,612,269. The business has a 50 day moving average of $161.04 and a 200-day moving average of $159.57. The company has a market cap of $97.13 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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 net margin of 23.42% and a return on equity of 12.95%. As a group, equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.14%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 40.17%.

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.