Intercontinental Exchange Inc. $ICE is Woodley Farra Manion Portfolio Management Inc.’s 10th Largest Position

Woodley Farra Manion Portfolio Management Inc. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 3.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 428,165 shares of the financial services provider’s stock after selling 15,845 shares during the quarter. Intercontinental Exchange comprises approximately 3.4% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 10th biggest position. Woodley Farra Manion Portfolio Management Inc. owned approximately 0.08% of Intercontinental Exchange worth $72,137,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Dynasty Wealth Management LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $897,000. Rockland Trust Co. raised its stake in shares of Intercontinental Exchange by 19.7% during the third quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after purchasing an additional 20,981 shares during the last quarter. Eastern Bank lifted its holdings in shares of Intercontinental Exchange by 14.6% during the third quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after purchasing an additional 25,980 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 37.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after purchasing an additional 3,261 shares during the period. Finally, Horizon Kinetics Asset Management LLC grew its position in Intercontinental Exchange by 1.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after buying an additional 13,497 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

Shares of ICE traded up $0.91 on Friday, reaching $155.02. The stock had a trading volume of 167,293 shares, compared to its average volume of 4,114,206. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The firm has a market capitalization of $88.04 billion, a PE ratio of 26.80, a PEG ratio of 1.62 and a beta of 1.02. The firm has a 50-day moving average of $164.76 and a 200 day moving average of $164.78. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same period in the previous year, the business earned $1.52 earnings per share. Intercontinental Exchange’s quarterly revenue was up 7.8% compared to the same quarter last year. Sell-side 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 Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.28%.

Analysts Set New Price Targets

Several research firms have recently commented on ICE. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. UBS Group reissued a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Barclays set a $193.00 price objective on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $195.40.

Insider Buying and Selling

In other news, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $163.20, for a total transaction of $261,120.00. Following the transaction, the senior vice president directly owned 24,196 shares of the company’s stock, valued at approximately $3,948,787.20. This trade represents a 6.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 323,378 shares of company stock valued at $50,352,508. 1.00% of the stock is owned by company insiders.

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.