Financial Enhancement Group LLC Sells 2,239 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Financial Enhancement Group LLC trimmed its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,218 shares of the financial services provider's stock after selling 2,239 shares during the period. Intercontinental Exchange comprises about 1.7% of Financial Enhancement Group LLC's holdings, making the stock its 24th largest position. Financial Enhancement Group LLC's holdings in Intercontinental Exchange were worth $10,801,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. REAP Financial Group LLC grew its holdings in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares in the last quarter. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth $29,000. Rakuten Securities Inc. raised 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 during the last quarter. Global Trust Asset Management LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter valued at about $31,000. Finally, Redwood Park Advisors LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at about $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded down $0.24 on Wednesday, hitting $180.61. 1,560,747 shares of the stock were exchanged, compared to its average volume of 3,005,101. The firm's 50 day moving average is $173.59 and its two-hundred day moving average is $165.13. Intercontinental Exchange Inc. has a one year low of $136.21 and a one year high of $181.65. The firm has a market capitalization of $103.60 billion, a PE ratio of 37.39, a P/E/G ratio of 1.94 and a beta of 1.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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 business 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. Sell-side analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio is 39.75%.

Wall Street Analyst Weigh In

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

Insider Activity at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 397 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the transaction, the director now owns 4,526 shares in the company, valued at $801,599.86. The trade was a 8.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is owned by company 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.