Conning Inc. Sells 6,159 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Conning Inc. decreased its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 18.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,559 shares of the financial services provider's stock after selling 6,159 shares during the quarter. Conning Inc.'s holdings in Intercontinental Exchange were worth $4,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock worth $7,782,521,000 after acquiring an additional 538,670 shares during the last quarter. Geode Capital Management LLC lifted its stake in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada lifted its stake in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Norges Bank bought a new stake in Intercontinental Exchange in the fourth quarter worth $1,196,258,000. Finally, Northern Trust Corp lifted its stake in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock worth $1,105,953,000 after purchasing an additional 655,247 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Up 0.8%

Shares of Intercontinental Exchange stock traded up $1.37 during midday trading on Friday, reaching $183.11. 1,082,826 shares of the company's stock traded hands, compared to its average volume of 2,993,486. 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 market cap of $105.04 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 1.98 and a beta of 1.11. The stock has a 50 day moving average of $177.16 and a 200-day moving average of $166.62. Intercontinental Exchange Inc. has a 12 month low of $140.32 and a 12 month high of $183.76.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the business earned $1.48 EPS. The company's revenue for the quarter was up 8.0% on a year-over-year basis. 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 declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange's payout ratio is currently 39.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Bank of America lowered their price objective 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. Barclays boosted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $188.46.

Insider Buying and Selling

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer owned 2,101,705 shares in the company, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 228,749 shares of company stock valued at $40,942,387 over the last quarter. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange 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.