Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Comerica Bank

Comerica Bank trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,164 shares of the financial services provider's stock after selling 4,409 shares during the quarter. Comerica Bank's holdings in Intercontinental Exchange were worth $21,482,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of ICE. Virtu Financial LLC acquired a new position in Intercontinental Exchange in the third quarter valued at $2,817,000. World Investment Advisors LLC lifted its stake in shares of Intercontinental Exchange by 759.2% in the 3rd quarter. World Investment Advisors LLC now owns 52,946 shares of the financial services provider's stock valued at $8,505,000 after purchasing an additional 46,784 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $3,504,000. Tidal Investments LLC increased its position in Intercontinental Exchange by 180.6% during the 3rd quarter. Tidal Investments LLC now owns 98,482 shares of the financial services provider's stock worth $15,820,000 after purchasing an additional 63,382 shares in the last quarter. Finally, Synovus Financial Corp raised its holdings in Intercontinental Exchange by 7.1% in the third quarter. Synovus Financial Corp now owns 33,874 shares of the financial services provider's stock valued at $5,441,000 after buying an additional 2,247 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the sale, the president now owns 147,274 shares of the company's stock, valued at $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction 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 directly owns 21,364 shares of the company's stock, valued at approximately $3,396,876. The trade was a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,931 shares of company stock valued at $10,492,868. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $2.45 during trading on Friday, hitting $173.29. 2,921,438 shares of the company traded hands, compared to its average volume of 2,928,957. The stock has a market capitalization of $99.55 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a one year low of $130.39 and a one year high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The business's fifty day moving average is $166.47 and its 200-day moving average is $160.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 EPS. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.11%. Intercontinental Exchange's payout ratio is 39.75%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ICE. 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 report on Friday, January 17th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $184.64.

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.