Edgestream Partners L.P. Cuts Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Edgestream Partners L.P. reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 95.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,479 shares of the financial services provider's stock after selling 33,503 shares during the period. Edgestream Partners L.P.'s holdings in Intercontinental Exchange were worth $255,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. REAP Financial Group LLC raised its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC raised its holdings in shares of Intercontinental Exchange by 187.3% during the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $29,000. Rakuten Securities Inc. increased its position 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 valued at $29,000 after purchasing an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange during the 1st quarter valued at approximately $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have commented on ICE. Morgan Stanley upped 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. 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. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $194.42.

Intercontinental Exchange Price Performance

ICE stock traded up $2.05 during mid-day trading on Thursday, reaching $183.05. 613,654 shares of the company's stock were exchanged, compared to its average volume of 2,963,067. The company has a market cap of $105.00 billion, a price-to-earnings ratio of 37.90, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. The stock's 50 day moving average is $179.46 and its 200 day moving average is $169.32. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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 business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. On average, 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 given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Activity

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange 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 sale, the chief executive officer owned 2,101,705 shares in the company, valued at $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO James W. Namkung sold 612 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,119 shares of company stock valued at $40,524,217 in the last 90 days. 1.00% of the stock is owned by insiders.

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.