Adage Capital Partners GP L.L.C. Reduces Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Adage Capital Partners GP L.L.C. trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 526,459 shares of the financial services provider's stock after selling 14,700 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.09% of Intercontinental Exchange worth $78,448,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $33,000. Lee Danner & Bass Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the 4th quarter worth $40,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in Intercontinental Exchange during the 4th quarter worth $45,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $1.28 during mid-day trading on Tuesday, reaching $164.76. 617,424 shares of the company's stock traded hands, compared to its average volume of 2,918,657. The firm has a 50 day moving average price of $166.39 and a two-hundred day moving average price of $160.45. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $177.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $94.65 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09.

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

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 17,104 shares of the 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 completion of the transaction, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,931 shares of company stock worth $10,492,868 in the last three months. 1.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $182.47.

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.