Flossbach Von Storch SE Has $801.55 Million Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Flossbach Von Storch SE lowered its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 8.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 3.5% of Flossbach Von Storch SE's holdings, making the stock its 12th biggest holding. Flossbach Von Storch SE owned about 0.81% of Intercontinental Exchange worth $801,547,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $1,196,258,000. Royal Bank of Canada lifted its stake in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after buying an additional 3,678,384 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after buying an additional 2,255,507 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after buying an additional 1,993,084 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ICE. Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Bank of America cut their target price 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. Keefe, Bruyette & Woods upped 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. UBS Group upped their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Barclays increased their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.58.

Intercontinental Exchange Trading Down 0.8%

NYSE:ICE traded down $1.37 during mid-day trading on Friday, hitting $180.45. The company had a trading volume of 1,576,878 shares, compared to its average volume of 2,974,797. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99. The business's fifty day moving average is $178.33 and its two-hundred day moving average is $167.39. 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 firm has a market cap of $103.51 billion, a P/E ratio of 37.36, a P/E/G ratio of 1.96 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm posted $1.48 earnings per share. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current 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 given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is 39.75%.

Intercontinental Exchange Company 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.