Argentarii LLC Lowers Position in Intercontinental Exchange Inc. (NYSE:ICE)

Argentarii LLC lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 35.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,534 shares of the financial services provider's stock after selling 1,389 shares during the period. Argentarii LLC's holdings in Intercontinental Exchange were worth $437,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Proffitt & Goodson Inc. raised its position in shares of Intercontinental Exchange by 2.4% in the 1st quarter. Proffitt & Goodson Inc. now owns 8,130 shares of the financial services provider's stock worth $1,402,000 after purchasing an additional 190 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Intercontinental Exchange by 19.3% in the 1st quarter. Concurrent Investment Advisors LLC now owns 16,124 shares of the financial services provider's stock worth $2,781,000 after purchasing an additional 2,611 shares during the last quarter. Simmons Bank raised its position in shares of Intercontinental Exchange by 0.4% in the 1st quarter. Simmons Bank now owns 31,568 shares of the financial services provider's stock worth $5,446,000 after purchasing an additional 126 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after purchasing an additional 1,993,084 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in shares of Intercontinental Exchange in the 1st quarter worth about $162,000. Institutional investors own 89.30% of the company's stock.

Insider Buying and Selling at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the transaction, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. This trade represents a 7.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.37 during trading hours on Friday, hitting $183.11. 1,082,826 shares of the stock traded hands, compared to its average volume of 2,993,486. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 1 year low of $140.32 and a 1 year high of $183.76. The company has a market cap of $105.04 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The stock has a 50 day moving average price of $177.16 and a 200 day moving average price of $166.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued 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. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the previous year, the firm earned $1.48 earnings per share. The company'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 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ICE shares. Barclays lifted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Finally, Bank of America decreased their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.

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.