Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,974,703 shares of the financial services provider's stock after selling 47,455 shares during the quarter. Ameriprise Financial Inc. owned 0.34% of Intercontinental Exchange worth $294,251,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock worth $5,647,000 after buying an additional 366 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Intercontinental Exchange by 6.9% during the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock worth $11,022,000 after acquiring an additional 4,787 shares in the last quarter. Avantra Family Wealth Inc. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $702,000. Dixon Mitchell Investment Counsel Inc. increased its stake in Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock valued at $108,515,000 after purchasing an additional 61,110 shares in the last quarter. Finally, National Pension Service raised its holdings in Intercontinental Exchange by 19.1% during the fourth quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after purchasing an additional 198,311 shares during the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research note on Friday, January 17th. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.93.

Intercontinental Exchange Trading Up 1.3 %

Shares of ICE traded up $2.26 during mid-day trading on Friday, hitting $178.73. The company had a trading volume of 3,313,509 shares, compared to its average volume of 2,947,980. Intercontinental Exchange, Inc. has a 1-year low of $131.79 and a 1-year high of $179.44. The business's 50-day simple moving average is $166.93 and its 200-day simple moving average is $161.00. The stock has a market cap of $102.52 billion, a PE ratio of 37.39, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $1.48 EPS. Intercontinental Exchange's revenue for the quarter was up 8.0% on a year-over-year basis. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Activity

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 stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now owns 17,972 shares in the company, valued at approximately $3,001,144.28. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the company's 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 sale, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,368 shares of company stock worth $7,077,789. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Company 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.