Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Avanza Fonder AB

Avanza Fonder AB cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,486 shares of the financial services provider's stock after selling 4,398 shares during the quarter. Avanza Fonder AB's holdings in Intercontinental Exchange were worth $6,560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Parsons Capital Management Inc. RI acquired a new stake in shares of Intercontinental Exchange during the first quarter worth $205,000. Sonora Investment Management Group LLC boosted its holdings in shares of Intercontinental Exchange by 9.2% in the 1st quarter. Sonora Investment Management Group LLC now owns 1,665 shares of the financial services provider's stock valued at $287,000 after buying an additional 140 shares during the last quarter. Simplicity Wealth LLC lifted its position in shares of Intercontinental Exchange by 8.6% in the first quarter. Simplicity Wealth LLC now owns 1,510 shares of the financial services provider's stock valued at $260,000 after buying an additional 119 shares during the last quarter. GAMMA Investing LLC lifted its position in Intercontinental Exchange by 42.0% during the first quarter. GAMMA Investing LLC now owns 13,129 shares of the financial services provider's stock worth $2,265,000 after acquiring an additional 3,883 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC increased its position in Intercontinental Exchange by 9.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,167 shares of the financial services provider's stock worth $374,000 after acquiring an additional 182 shares during the period. Institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target 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. Bank of America lowered their price target 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. Morgan Stanley raised their price target 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. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Buying and Selling at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer now owns 13,220 shares in the company, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 226,354 shares of company stock valued at $40,512,695. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 0.8%

Intercontinental Exchange stock traded up $1.49 during mid-day trading on Thursday, hitting $178.99. The company's stock had a trading volume of 1,782,924 shares, compared to its average volume of 3,013,944. The stock's fifty day moving average is $169.28 and its two-hundred day moving average is $163.78. The firm has a market capitalization of $102.67 billion, a PE ratio of 37.45, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 1 year low of $133.97 and a 1 year high of $180.89. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm 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%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $1.48 earnings per share. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

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.