Bank of Nova Scotia Boosts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Bank of Nova Scotia raised its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 110.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 439,134 shares of the financial services provider’s stock after acquiring an additional 230,918 shares during the period. Bank of Nova Scotia owned approximately 0.08% of Intercontinental Exchange worth $65,435,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ICE. Strategic Advisors LLC lifted its position in shares of Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after buying an additional 66 shares in the last quarter. Commons Capital LLC increased its stake in Intercontinental Exchange by 1.2% in the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 69 shares during the last quarter. Brooklyn Investment Group raised its holdings in shares of Intercontinental Exchange by 2.2% during the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 70 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in shares of Intercontinental Exchange by 3.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in shares of Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 2.4 %

ICE stock opened at $150.94 on Wednesday. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $177.45. The firm’s 50-day moving average is $168.08 and its 200 day moving average is $160.62. The company has a market capitalization of $86.72 billion, a PE ratio of 31.58, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ICE shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays lifted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.47.

Insiders Place Their Bets

In other news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lynn C. Martin sold 4,155 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.60, for a total transaction of $688,068.00. Following the transaction, the insider now owns 57,376 shares in the company, valued at approximately $9,501,465.60. This represents a 6.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently 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.