Gradient Investments LLC Has $14.29 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Gradient Investments LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,840 shares of the financial services provider's stock after selling 4,925 shares during the quarter. Gradient Investments LLC's holdings in Intercontinental Exchange were worth $14,290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. REAP Financial Group LLC increased its stake in shares of Intercontinental Exchange by 116.7% in the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Menard Financial Group LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $29,000. Redwood Park Advisors LLC acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange during the 4th quarter worth approximately $34,000. 89.30% of the stock is owned by institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 552 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total value of $96,335.04. Following the transaction, the insider now directly owns 15,658 shares of the company's stock, valued at approximately $2,732,634.16. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the business's 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 transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,191 shares of company stock worth $694,978 over the last ninety days. Insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.1%

Shares of ICE stock traded down $0.17 during mid-day trading on Thursday, reaching $178.96. 827,318 shares of the stock traded hands, compared to its average volume of 3,006,440. The stock's fifty day simple moving average is $168.33 and its two-hundred day simple moving average is $163.12. Intercontinental Exchange, Inc. has a 1-year low of $132.93 and a 1-year high of $180.89. The company has a market cap of $102.66 billion, a price-to-earnings ratio of 37.44, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results 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. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the firm posted $1.48 earnings per share. The business's revenue for the quarter was up 8.0% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange's payout ratio is presently 39.75%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lifted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and an average 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.