Dixon Mitchell Investment Counsel Inc. Has $120.06 Million Stake in Intercontinental Exchange Inc. $ICE

Dixon Mitchell Investment Counsel Inc. trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 8.0% during the second quarter, Holdings Channel reports. The firm owned 653,838 shares of the financial services provider’s stock after selling 56,540 shares during the period. Intercontinental Exchange comprises about 4.7% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 5th largest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Intercontinental Exchange were worth $120,055,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisors Capital Management LLC grew its position in Intercontinental Exchange by 25.0% in the first quarter. Advisors Capital Management LLC now owns 1,978 shares of the financial services provider’s stock worth $341,000 after buying an additional 396 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of 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 worth $152,603,000 after acquiring an additional 13,497 shares during the last quarter. Trillium Asset Management LLC grew its holdings in shares of Intercontinental Exchange by 12.0% in the 2nd quarter. Trillium Asset Management LLC now owns 272,010 shares of the financial services provider’s stock worth $49,907,000 after acquiring an additional 29,250 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Intercontinental Exchange by 6.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 886,369 shares of the financial services provider’s stock worth $161,195,000 after purchasing an additional 55,057 shares during the period. Finally, King Luther Capital Management Corp lifted its holdings in shares of Intercontinental Exchange by 19.7% during the second quarter. King Luther Capital Management Corp now owns 294,112 shares of the financial services provider’s stock valued at $53,961,000 after purchasing an additional 48,344 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

ICE has been the topic of a number of analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Intercontinental Exchange in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods upgraded shares of Intercontinental Exchange to a “moderate buy” rating in a report on Monday, October 6th. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Morgan Stanley reduced their price target on shares of Intercontinental Exchange from $188.00 to $178.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 21st. Finally, TD Cowen lowered their price objective on shares of Intercontinental Exchange from $199.00 to $175.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Buy” and an average target price of $194.70.

Intercontinental Exchange Price Performance

NYSE ICE opened at $157.51 on Friday. The company has a 50 day simple moving average of $156.50 and a 200-day simple moving average of $171.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $89.81 billion, a price-to-earnings ratio of 30.23, a price-to-earnings-growth ratio of 2.11 and a beta of 1.06. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, October 30th. The financial services provider reported $1.71 EPS for the quarter, meeting analysts’ consensus estimates of $1.71. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.49 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. During the same period in the previous year, the firm posted $1.55 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. Equities research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercontinental Exchange

In other news, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $175.62, for a total value of $280,992.00. Following the transaction, the senior vice president directly owned 25,796 shares of the company’s stock, valued at approximately $4,530,293.52. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Judith A. Sprieser sold 2,900 shares of Intercontinental Exchange stock in a transaction on Thursday, September 4th. The shares were sold at an average price of $174.51, for a total value of $506,079.00. Following the sale, the director directly owned 18,169 shares of the company’s stock, valued at approximately $3,170,672.19. The trade was a 13.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 170,944 shares of company stock worth $26,338,174 over the last 90 days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

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.