Envestnet Asset Management Inc. Cuts Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Envestnet Asset Management Inc. lessened its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,124,753 shares of the financial services provider's stock after selling 11,857 shares during the quarter. Envestnet Asset Management Inc. owned about 0.20% of Intercontinental Exchange worth $194,020,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. Brighton Jones LLC grew its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares during the last quarter. Proficio Capital Partners LLC boosted its holdings in Intercontinental Exchange by 37.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,238 shares of the financial services provider's stock worth $333,000 after purchasing an additional 606 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth approximately $207,000. NBT Bank N A NY boosted its holdings in Intercontinental Exchange by 37.5% in the fourth quarter. NBT Bank N A NY now owns 12,373 shares of the financial services provider's stock worth $1,844,000 after purchasing an additional 3,374 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Intercontinental Exchange by 5.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,363 shares of the financial services provider's stock worth $37,456,000 after purchasing an additional 13,599 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

ICE has been the topic of several research reports. Bank of America dropped 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. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley increased 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 report on Monday, May 5th. Barclays increased their price target on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday. Finally, UBS Group increased their price target on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus price target of $192.58.

Intercontinental Exchange Price Performance

Shares of ICE stock traded down $0.36 on Thursday, hitting $181.80. 1,894,320 shares of the stock traded hands, compared to its average volume of 2,980,389. The firm has a market cap of $104.28 billion, a price-to-earnings ratio of 37.64, a PEG ratio of 1.96 and a beta of 1.11. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $183.99. The firm has a 50 day simple moving average of $178.11 and a two-hundred day simple moving average of $167.17. 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 (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for 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 was up 8.0% on a year-over-year basis. During the same period last year, the firm earned $1.48 EPS. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insiders Place Their Bets

In other news, Director Sharon Bowen sold 795 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $183.30, for a total transaction of $145,723.50. Following the completion of the transaction, the director owned 15,000 shares in the company, valued at $2,749,500. This trade represents a 5.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 228,749 shares of company stock worth $40,942,387. 1.00% of the stock is owned by corporate 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.