Flossbach Von Storch SE Sells 428,083 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Flossbach Von Storch SE trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,646,647 shares of the financial services provider's stock after selling 428,083 shares during the period. Intercontinental Exchange comprises about 3.5% of Flossbach Von Storch SE's holdings, making the stock its 12th biggest holding. Flossbach Von Storch SE owned 0.81% of Intercontinental Exchange worth $801,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ICE. Brighton Jones LLC lifted its stake in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after acquiring an additional 1,169 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Intercontinental Exchange by 37.1% in the 4th quarter. Proficio Capital Partners LLC now owns 2,238 shares of the financial services provider's stock worth $333,000 after acquiring an additional 606 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth about $207,000. NBT Bank N A NY lifted its stake in Intercontinental Exchange by 37.5% in the 4th quarter. NBT Bank N A NY now owns 12,373 shares of the financial services provider's stock worth $1,844,000 after acquiring an additional 3,374 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intercontinental Exchange by 5.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,363 shares of the financial services provider's stock worth $37,456,000 after acquiring an additional 13,599 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 0.2%

Shares of NYSE ICE traded down $0.36 during mid-day trading on Thursday, reaching $181.80. 1,894,320 shares of the company traded hands, compared to its average volume of 2,980,389. 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 has a market cap of $104.28 billion, a PE ratio of 37.64, a price-to-earnings-growth ratio of 1.96 and a beta of 1.11. The company's fifty day moving average is $178.33 and its two-hundred day moving average is $167.39. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 EPS. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors 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 payout ratio is 39.75%.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. This represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sharon Bowen sold 795 shares of the stock in a transaction that occurred 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 sale, the director owned 15,000 shares of the company's stock, valued at approximately $2,749,500. The trade was a 5.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 228,749 shares of company stock worth $40,942,387 over the last 90 days. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ICE shares. UBS Group increased their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday. Morgan Stanley upped their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Bank of America dropped their target price 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, Barclays upped their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $192.58.

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.