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

Banque Pictet & Cie SA trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 155,018 shares of the financial services provider's stock after selling 5,849 shares during the quarter. Banque Pictet & Cie SA's holdings in Intercontinental Exchange were worth $26,741,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. REAP Financial Group LLC raised its holdings in Intercontinental Exchange by 116.7% in 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 in the last quarter. Tsfg LLC grew its position in shares of Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% during the 1st quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in shares of Intercontinental Exchange during the first quarter worth $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays lifted their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 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. Finally, UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and an average price target of $192.58.

Insiders Place Their Bets

In related 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 value of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sharon Bowen sold 795 shares of the firm's 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 transaction, the director owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This represents a 5.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 228,749 shares of company stock worth $40,942,387. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.8%

Shares of NYSE ICE traded down $1.37 during trading on Friday, hitting $180.45. 1,576,878 shares of the company were exchanged, compared to its average volume of 2,974,797. 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 12-month low of $142.29 and a 12-month high of $183.99. The company has a fifty day moving average price of $178.33 and a 200-day moving average price of $167.39. The firm has a market capitalization of $103.51 billion, a PE ratio of 37.36, a P/E/G ratio of 1.96 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its 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. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 EPS. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) 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.