Cullen Investment Group LTD. decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 43.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,324 shares of the financial services provider's stock after selling 5,594 shares during the quarter. Cullen Investment Group LTD.'s holdings in Intercontinental Exchange were worth $1,263,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Advisors LLC boosted its stake in shares of Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 66 shares during the period. Johnson Investment Counsel Inc. boosted its stake in shares of Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock valued at $465,000 after purchasing an additional 71 shares during the period. Quadcap Wealth Management LLC boosted its stake in shares of Intercontinental Exchange by 1.2% in the fourth quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock valued at $918,000 after purchasing an additional 71 shares during the period. Colonial Trust Co SC boosted its stake in shares of Intercontinental Exchange by 11.7% in the fourth quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 72 shares during the period. Finally, Sprott Inc. boosted its stake in shares of Intercontinental Exchange by 2.4% in the fourth quarter. Sprott Inc. now owns 3,085 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 73 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.
Intercontinental Exchange Stock Up 0.8%
Shares of NYSE:ICE traded up $1.42 during trading on Friday, hitting $179.95. 5,439,058 shares of the company were exchanged, compared to its average volume of 3,019,494. The stock has a market capitalization of $103.22 billion, a P/E ratio of 37.65, a PEG ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. Intercontinental Exchange, Inc. has a 12-month low of $132.57 and a 12-month high of $180.64. The firm's 50 day moving average price is $168.09 and its 200-day moving average price is $162.63.
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 for the quarter, topping the consensus estimate of $1.70 by $0.02. The business 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 23.42% and a return on equity of 12.95%. The company's revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.
Analysts Set New Price Targets
Several research analysts have recently commented on ICE shares. Keefe, Bruyette & Woods raised their price objective 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. Morgan Stanley lifted their price target on shares of 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 target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. UBS Group lifted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Finally, Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.
Read Our Latest Stock Report on ICE
Insider Activity
In other news, Director Martha A. Tirinnanzi sold 397 shares of Intercontinental Exchange stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value of $70,312.67. Following the transaction, the director now directly owns 4,526 shares of the company's stock, valued at $801,599.86. The trade was a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,579 shares of company stock valued at $584,818 in the last ninety days. 1.00% of the stock is currently owned by company insiders.
About Intercontinental Exchange
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Free Report)
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.
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