Artemis Investment Management LLP Lowers Position in Intercontinental Exchange Inc. (NYSE:ICE)

Artemis Investment Management LLP reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 59.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,465 shares of the financial services provider's stock after selling 134,952 shares during the period. Artemis Investment Management LLP's holdings in Intercontinental Exchange were worth $15,778,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its position in Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares during the period. Sigma Planning Corp boosted its position in Intercontinental Exchange by 4.3% during the fourth quarter. Sigma Planning Corp now owns 3,452 shares of the financial services provider's stock worth $514,000 after purchasing an additional 142 shares in the last quarter. Wealthspire Advisors LLC increased its position in shares of Intercontinental Exchange by 12.7% in the fourth quarter. Wealthspire Advisors LLC now owns 2,756 shares of the financial services provider's stock valued at $411,000 after buying an additional 311 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $1,166,000. Finally, Los Angeles Capital Management LLC boosted its position in shares of Intercontinental Exchange by 392.9% in the 4th quarter. Los Angeles Capital Management LLC now owns 72,304 shares of the financial services provider's stock worth $10,774,000 after buying an additional 57,635 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

NYSE ICE opened at $180.97 on Friday. The stock has a market capitalization of $103.81 billion, a PE ratio of 37.47, a P/E/G ratio of 1.95 and a beta of 1.12. The stock has a 50-day simple moving average of $174.49 and a 200 day simple moving average of $165.41. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a twelve month low of $136.21 and a twelve month high of $181.98.

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

Intercontinental Exchange Dividend Announcement

The company 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's payout ratio is currently 39.75%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ICE. 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. Morgan Stanley lifted their price objective 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. Keefe, Bruyette & Woods increased their price objective 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, Barclays upped their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $188.46.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the transaction, the general counsel now owns 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange 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 completion of 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. Insiders have sold 227,954 shares of company stock valued at $40,796,663 over the last 90 days. 1.00% of the stock is owned by company insiders.

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.

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