Intercontinental Exchange Inc. (NYSE:ICE) Position Reduced by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 38.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,449 shares of the financial services provider's stock after selling 26,437 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Intercontinental Exchange were worth $7,322,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ICE. Premier Path Wealth Partners LLC increased its position in shares of Intercontinental Exchange by 5.4% in the first quarter. Premier Path Wealth Partners LLC now owns 4,802 shares of the financial services provider's stock valued at $828,000 after buying an additional 244 shares in the last quarter. Institute for Wealth Management LLC. increased its holdings in Intercontinental Exchange by 12.3% during the 1st quarter. Institute for Wealth Management LLC. now owns 3,195 shares of the financial services provider's stock valued at $551,000 after acquiring an additional 351 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Intercontinental Exchange by 2.9% during the 1st quarter. State of Alaska Department of Revenue now owns 67,331 shares of the financial services provider's stock valued at $11,614,000 after acquiring an additional 1,880 shares in the last quarter. CWA Asset Management Group LLC raised its position in Intercontinental Exchange by 3.6% during the first quarter. CWA Asset Management Group LLC now owns 5,624 shares of the financial services provider's stock worth $970,000 after acquiring an additional 193 shares during the last quarter. Finally, PUREfi Wealth LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter valued at about $214,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 0.8%

ICE traded down $1.50 during midday trading on Friday, hitting $178.27. The company's stock had a trading volume of 3,910,144 shares, compared to its average volume of 3,015,942. Intercontinental Exchange Inc. has a 52-week low of $136.21 and a 52-week high of $181.65. The firm has a 50-day moving average price of $172.76 and a two-hundred day moving average price of $164.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market cap of $102.26 billion, a P/E ratio of 36.91, a PEG ratio of 1.93 and a beta of 1.12.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The firm 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 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.48 earnings per share. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.08%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares of the company's stock, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martha A. Tirinnanzi sold 397 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the transaction, the director now directly owns 4,526 shares of the company's stock, valued at approximately $801,599.86. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ICE has been the subject of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Barclays raised their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Morgan Stanley increased their price objective 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. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

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.