Dixon Mitchell Investment Counsel Inc. Increases Stake in Intercontinental Exchange Inc. $ICE

Dixon Mitchell Investment Counsel Inc. increased its holdings in Intercontinental Exchange Inc. (NYSE:ICE) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 705,283 shares of the financial services provider’s stock after purchasing an additional 46,417 shares during the period. Intercontinental Exchange makes up about 3.8% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 8th largest position. Dixon Mitchell Investment Counsel Inc. owned about 0.12% of Intercontinental Exchange worth $114,312,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in Intercontinental Exchange by 5.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 191,658 shares of the financial services provider’s stock worth $31,041,000 after purchasing an additional 10,742 shares during the last quarter. M&G PLC increased its position in Intercontinental Exchange by 18.4% in the third quarter. M&G PLC now owns 107,070 shares of the financial services provider’s stock worth $17,988,000 after purchasing an additional 16,635 shares during the last quarter. Dover Advisors LLC bought a new stake in Intercontinental Exchange in the third quarter worth $710,000. Advisors Preferred LLC increased its position in Intercontinental Exchange by 284.5% in the third quarter. Advisors Preferred LLC now owns 43,645 shares of the financial services provider’s stock worth $7,098,000 after purchasing an additional 32,295 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Intercontinental Exchange by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 54,153,170 shares of the financial services provider’s stock worth $8,770,647,000 after purchasing an additional 413,639 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.9%

Shares of ICE opened at $140.26 on Friday. The firm has a market capitalization of $79.32 billion, a P/E ratio of 20.42, a P/E/G ratio of 1.35 and a beta of 0.92. Intercontinental Exchange Inc. has a 12-month low of $136.67 and a 12-month high of $189.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $154.22 and a 200-day moving average price of $159.27.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. The firm had revenue of $3.67 billion during the quarter, compared to analyst estimates of $2.88 billion. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business’s revenue was up 20.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.72 earnings per share. Equities research analysts expect that Intercontinental Exchange Inc. will post 8.16 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Rothschild & Co Redburn set a $177.00 price objective on shares of Intercontinental Exchange in a research note on Thursday. Piper Sandler reaffirmed an “overweight” rating and set a $211.00 price objective (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. Barclays reaffirmed an “overweight” rating and set a $201.00 price objective (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective for the company in a research note on Friday, March 6th. Finally, Weiss Ratings lowered shares of Intercontinental Exchange from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $193.00.

Insider Transactions at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $156.64, for a total value of $390,033.60. Following the completion of the sale, the chief financial officer directly owned 25,189 shares in the company, valued at $3,945,604.96. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sharon Bowen sold 667 shares of Intercontinental Exchange stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $151.28, for a total value of $100,903.76. Following the completion of the sale, the director owned 15,077 shares of the company’s stock, valued at $2,280,848.56. The trade was a 4.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 12,092 shares of company stock valued at $1,860,424. Insiders own 0.84% of the company’s stock.

Intercontinental Exchange Company 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.