Banque Pictet & Cie SA Decreases Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Banque Pictet & Cie SA cut its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,018 shares of the financial services provider's stock after selling 5,849 shares during the period. Banque Pictet & Cie SA's holdings in Intercontinental Exchange were worth $26,741,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares during the period. Proficio Capital Partners LLC lifted its holdings in Intercontinental Exchange by 37.1% during the fourth quarter. Proficio Capital Partners LLC now owns 2,238 shares of the financial services provider's stock worth $333,000 after acquiring an additional 606 shares in the last quarter. Simplicity Wealth LLC bought a new position in Intercontinental Exchange during the fourth quarter worth about $207,000. NBT Bank N A NY boosted its holdings in shares of Intercontinental Exchange by 37.5% in the fourth quarter. NBT Bank N A NY now owns 12,373 shares of the financial services provider's stock valued at $1,844,000 after buying an additional 3,374 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Intercontinental Exchange by 5.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,363 shares of the financial services provider's stock valued at $37,456,000 after buying an additional 13,599 shares during the period. 89.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ICE has been the subject of several research analyst reports. 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. Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.

Intercontinental Exchange Stock Down 0.2%

ICE traded down $0.36 on Thursday, hitting $181.80. The company had a trading volume of 1,894,320 shares, compared to its average volume of 2,980,389. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $183.99. The firm has a market capitalization of $104.28 billion, a P/E ratio of 37.64, a P/E/G ratio of 1.96 and a beta of 1.11. The stock has a fifty day simple moving average of $178.33 and a 200-day simple moving average of $167.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data 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. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same period last year, the firm posted $1.48 earnings per share. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the transaction, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% 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 Company Profile

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.