Bank of Nova Scotia Has $106.17 Million Stock Holdings in Intercontinental Exchange Inc. $ICE

Bank of Nova Scotia grew its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.3% in the third quarter, Holdings Channel reports. The institutional investor owned 630,171 shares of the financial services provider’s stock after acquiring an additional 31,445 shares during the period. Bank of Nova Scotia’s holdings in Intercontinental Exchange were worth $106,171,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in Intercontinental Exchange during the 2nd quarter worth approximately $1,542,780,000. Wellington Management Group LLP grew its holdings in Intercontinental Exchange by 64.7% during the third 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 in the last quarter. Sands Capital Management LLC grew its holdings in Intercontinental Exchange by 97.3% during the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after buying an additional 2,620,310 shares in the last quarter. Mawer Investment Management Ltd. raised its position in Intercontinental Exchange by 179.1% in 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 buying an additional 1,586,620 shares during the last quarter. Finally, Waverton Investment Management Ltd lifted its stake in 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 acquiring an additional 1,521,467 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

ICE has been the subject of several analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Raymond James Financial reissued a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $194.73.

Intercontinental Exchange Trading Up 0.3%

NYSE:ICE opened at $159.12 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $90.36 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The firm’s 50 day moving average is $164.52 and its 200 day moving average is $162.21. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter in the prior year, the business earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 36.05%.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total value of $2,358,319.26. Following the completion of the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last three months. Corporate insiders own 1.00% of the company’s stock.

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.