Choreo LLC Sells 1,765 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Choreo LLC trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 11.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,902 shares of the financial services provider's stock after selling 1,765 shares during the quarter. Choreo LLC's holdings in Intercontinental Exchange were worth $2,398,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Berkeley Capital Partners LLC increased its holdings in Intercontinental Exchange by 1.1% during the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after acquiring an additional 62 shares during the period. GPS Wealth Strategies Group LLC boosted its stake in Intercontinental Exchange by 17.2% during the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock valued at $74,000 after buying an additional 63 shares during the period. Values Added Financial LLC grew its position in Intercontinental Exchange by 4.4% during the first quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock worth $264,000 after buying an additional 64 shares in the last quarter. MV Capital Management Inc. increased its stake in Intercontinental Exchange by 15.7% in the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock worth $86,000 after acquiring an additional 68 shares during the last quarter. Finally, Quadcap Wealth Management LLC raised its holdings in shares of Intercontinental Exchange by 1.2% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock valued at $918,000 after acquiring an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $0.94 on Friday, reaching $184.52. The stock had a trading volume of 2,588,779 shares, compared to its average volume of 1,851,322. The stock has a market cap of $105.84 billion, a P/E ratio of 38.20, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day simple moving average of $179.80 and a 200 day simple moving average of $170.01. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $185.30.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. Intercontinental Exchange's payout ratio is 39.75%.

Wall Street Analyst Weigh In

ICE has been the subject of several research analyst reports. UBS Group lifted their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Piper Sandler lifted their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Barclays raised their price target on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday, July 10th. Morgan Stanley upped 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. Finally, Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Insider Activity at Intercontinental Exchange

In related news, CAO James W. Namkung sold 612 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer owned 13,220 shares in the company, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,119 shares of company stock worth $40,524,217 in the last 90 days. Company insiders own 1.00% of the company's stock.

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.