DAVENPORT & Co LLC Decreases Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

DAVENPORT & Co LLC lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 729,322 shares of the financial services provider's stock after selling 4,941 shares during the quarter. DAVENPORT & Co LLC owned 0.13% of Intercontinental Exchange worth $126,150,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tsfg LLC boosted 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 in the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares in the last quarter. REAP Financial Group LLC grew its position in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Global Trust Asset Management LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at approximately $31,000. Finally, Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 0.2%

Intercontinental Exchange stock traded down $0.30 during trading on Wednesday, reaching $181.56. The company had a trading volume of 1,631,140 shares, compared to its average volume of 2,993,861. Intercontinental Exchange Inc. has a 12-month low of $139.61 and a 12-month high of $183.76. 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 stock's 50 day moving average price is $175.95 and its two-hundred day moving average price is $165.99. The firm has a market capitalization of $104.15 billion, a price-to-earnings ratio of 37.59, a PEG ratio of 1.96 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.48 EPS. As a group, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Insider Buying and Selling

In other news, Director Sharon Bowen sold 795 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the completion of the sale, the director owned 15,000 shares of the company's stock, valued at $2,749,500. This represents a 5.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares in the company, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 228,749 shares of company stock worth $40,942,387. Corporate insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ICE. Morgan Stanley upped their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Bank of America reduced their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $188.46.

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.