Alpine Woods Capital Investors LLC Sells 10,759 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Alpine Woods Capital Investors LLC reduced its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 27.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,871 shares of the financial services provider's stock after selling 10,759 shares during the period. Intercontinental Exchange comprises about 1.2% of Alpine Woods Capital Investors LLC's holdings, making the stock its 25th largest holding. Alpine Woods Capital Investors LLC's holdings in Intercontinental Exchange were worth $4,980,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. REAP Financial Group LLC lifted its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the last quarter. Tsfg LLC raised its position in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock valued at $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its stake in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total transaction of $145,723.50. Following the sale, the director directly owned 15,000 shares in the company, valued at $2,749,500. This trade represents a 5.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the transaction, the senior vice president owned 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock valued at $40,942,387 in the last ninety days. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $1.37 during mid-day trading on Friday, reaching $180.45. The company's stock had a trading volume of 1,576,878 shares, compared to its average volume of 2,970,341. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $183.99. The business has a 50-day simple moving average of $178.47 and a two-hundred day simple moving average of $167.84. The stock has a market cap of $103.51 billion, a P/E ratio of 37.36, a PEG ratio of 1.97 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business's revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.48 EPS. As a group, equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Bank of America cut their target price 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. Barclays upped their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Finally, UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.58.

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.