USS Investment Management Ltd Has $97.10 Million Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

USS Investment Management Ltd cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651,601 shares of the financial services provider’s stock after selling 4,450 shares during the period. USS Investment Management Ltd owned approximately 0.11% of Intercontinental Exchange worth $97,102,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. Redwood Park Advisors LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $33,000. Lee Danner & Bass Inc. bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $34,000. BankPlus Trust Department bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $40,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $44,000. 89.30% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ICE. Bank of America reduced their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays raised their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Intercontinental Exchange Trading Up 0.2%

Shares of NYSE ICE opened at $176.61 on Tuesday. Intercontinental Exchange, Inc. has a 1-year low of $131.79 and a 1-year high of $179.44. The company has a market cap of $101.31 billion, a PE ratio of 36.95, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $167.46 and a two-hundred day moving average of $161.42.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the previous year, the firm posted $1.48 earnings per share. The company’s revenue was up 8.0% on a year-over-year basis. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio is 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the completion of the sale, the insider now owns 17,972 shares in the company, valued at $3,001,144.28. The trade was a 27.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the sale, the president now owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. This represents a 9.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,468 shares of company stock worth $5,763,545 in the last quarter. 1.00% of the stock is owned by company insiders.

About Intercontinental Exchange

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.