Banque Pictet & Cie SA Sells 5,849 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Banque Pictet & Cie SA trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 quarter.

A number of other hedge funds also recently made changes to their positions in ICE. Tsfg LLC boosted 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 worth $27,000 after purchasing an additional 103 shares during the period. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after purchasing an additional 143 shares during the period. REAP Financial Group LLC boosted its position in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after purchasing an additional 91 shares during the period. Global Trust Asset Management LLC bought a new position in Intercontinental Exchange during the first quarter worth $31,000. Finally, Menard Financial Group LLC bought a new position in Intercontinental Exchange during the fourth quarter worth $29,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In other news, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the transaction, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. This represents a 5.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,749 shares of company stock worth $40,942,387. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ICE shares. Bank of America lowered their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Barclays lifted their price target on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group lifted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday. 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 report on Monday, May 5th. Finally, 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 report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.

Intercontinental Exchange Price Performance

Shares of NYSE ICE traded up $0.31 during mid-day trading on Thursday, reaching $182.47. The company had a trading volume of 707,256 shares, compared to its average volume of 2,975,432. 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 one year low of $142.29 and a one year high of $183.99. The firm has a market cap of $104.67 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 1.95 and a beta of 1.11. The business's 50-day simple moving average is $178.11 and its 200 day simple moving average is $167.17.

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 for the quarter, topping 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 quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.48 earnings per share. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

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.