Daiwa Securities Group Inc. reduced its stake in Intercontinental Exchange Inc (NYSE:ICE) by 15.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,862 shares of the financial services provider’s stock after selling 22,035 shares during the period. Daiwa Securities Group Inc.’s holdings in Intercontinental Exchange were worth $8,669,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ICE. QS Investors LLC increased its holdings in shares of Intercontinental Exchange by 10.0% in the second quarter. QS Investors LLC now owns 10,381 shares of the financial services provider’s stock valued at $684,000 after purchasing an additional 946 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Intercontinental Exchange by 2.4% in the second quarter. Bank of Nova Scotia now owns 30,186 shares of the financial services provider’s stock valued at $1,990,000 after purchasing an additional 710 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Intercontinental Exchange by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 532,970 shares of the financial services provider’s stock valued at $35,133,000 after purchasing an additional 2,810 shares during the last quarter. Gofen & Glossberg LLC IL increased its holdings in shares of Intercontinental Exchange by 0.4% in the second quarter. Gofen & Glossberg LLC IL now owns 96,030 shares of the financial services provider’s stock valued at $6,330,000 after purchasing an additional 426 shares during the last quarter. Finally, Tandem Investment Advisors Inc. increased its holdings in shares of Intercontinental Exchange by 4.3% in the second quarter. Tandem Investment Advisors Inc. now owns 132,638 shares of the financial services provider’s stock valued at $8,743,000 after purchasing an additional 5,458 shares during the last quarter. Hedge funds and other institutional investors own 90.14% of the company’s stock.

In related news, CFO Scott A. Hill sold 14,772 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $75.00, for a total transaction of $1,107,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Hill sold 7,526 shares of the company’s stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $75.00, for a total transaction of $564,450.00. Following the sale, the chief financial officer now directly owns 202,371 shares of the company’s stock, valued at approximately $15,177,825. The disclosure for this sale can be found here. Insiders have sold 48,910 shares of company stock valued at $3,579,672 in the last ninety days. 1.50% of the stock is currently owned by company insiders.

Intercontinental Exchange Inc (NYSE:ICE) opened at $68.45 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 1.01. Intercontinental Exchange Inc has a one year low of $56.97 and a one year high of $76.14. The company has a market cap of $40,910.00, a PE ratio of 16.14, a P/E/G ratio of 2.31 and a beta of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $0.73 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.01. Intercontinental Exchange had a net margin of 43.09% and a return on equity of 10.83%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the prior year, the company posted $0.71 earnings per share. Intercontinental Exchange’s revenue was up .5% compared to the same quarter last year. research analysts anticipate that Intercontinental Exchange Inc will post 3.63 EPS for the current fiscal year.

Intercontinental Exchange announced that its board has authorized a stock buyback program on Thursday, November 2nd that permits the company to buyback $1.20 billion in shares. This buyback authorization permits the financial services provider to buy up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, September 12th. This represents a $0.96 annualized dividend and a yield of 1.40%. Intercontinental Exchange’s dividend payout ratio is 18.87%.

Several research firms have commented on ICE. Berenberg Bank began coverage on shares of Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price objective on the stock. Argus upped their price objective on shares of Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Wednesday, January 3rd. Royal Bank of Canada upped their price objective on shares of Intercontinental Exchange from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Monday, October 16th. Finally, Bank of America decreased their price target on shares of Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Intercontinental Exchange currently has a consensus rating of “Buy” and an average target price of $76.08.

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Intercontinental Exchange Profile

Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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