Earnest Partners LLC Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Earnest Partners LLC lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 789,419 shares of the financial services provider's stock after selling 23,664 shares during the quarter. Earnest Partners LLC owned about 0.14% of Intercontinental Exchange worth $117,631,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock valued at $5,647,000 after purchasing an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC lifted its stake in Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock valued at $11,022,000 after purchasing an additional 4,787 shares during the last quarter. Avantra Family Wealth Inc. bought a new stake in Intercontinental Exchange during the fourth quarter worth approximately $702,000. Dixon Mitchell Investment Counsel Inc. boosted its holdings in Intercontinental Exchange by 9.2% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after buying an additional 61,110 shares in the last quarter. Finally, National Pension Service boosted 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 buying an additional 198,311 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,931 shares of company stock valued at $10,492,868. Corporate insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Barclays raised their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Bank of America decreased 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 note on Wednesday, April 2nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $182.47.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.76 during trading hours on Wednesday, hitting $168.09. 3,671,833 shares of the company's stock traded hands, compared to its average volume of 2,935,402. The business's fifty day simple moving average is $166.38 and its two-hundred day simple moving average is $160.49. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week 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 firm has a market cap of $96.57 billion, a P/E ratio of 35.17, a P/E/G ratio of 2.10 and a beta of 1.09.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data 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 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.14%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 40.17%.

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.