Picton Mahoney Asset Management Acquires 39,164 Shares of Intercontinental Exchange Inc. $ICE

Picton Mahoney Asset Management increased its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 49.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,174 shares of the financial services provider’s stock after purchasing an additional 39,164 shares during the quarter. Picton Mahoney Asset Management’s holdings in Intercontinental Exchange were worth $19,908,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in shares of Intercontinental Exchange by 51.3% during 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 during the last quarter. Empowered Funds LLC boosted its holdings in Intercontinental Exchange by 9.0% during the 1st 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 during the period. Sivia Capital Partners LLC boosted its holdings in Intercontinental Exchange by 16.2% during the 2nd 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 during the period. Arkadios Wealth Advisors bought a new position in Intercontinental Exchange during the 2nd quarter worth approximately $313,000. Finally, Assetmark Inc. increased its stake in Intercontinental Exchange by 1.1% in the 2nd quarter. Assetmark Inc. now owns 24,111 shares of the financial services provider’s stock worth $4,424,000 after purchasing an additional 262 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ICE. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $195.40.

Insiders Place Their Bets

In other news, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was 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 in the company, valued at $8,357,521.34. This trade represents a 19.85% 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 3,865 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the sale, the president directly owned 165,304 shares in the company, valued at $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 359,063 shares of company stock valued at $55,879,604. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $164.74 on Wednesday. The business’s fifty day moving average is $164.59 and its 200 day moving average is $163.06. 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 stock has a market cap of $93.56 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 1.72 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.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the prior year, the firm earned $1.52 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange’s payout ratio is presently 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.