Sendero Wealth Management LLC Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sendero Wealth Management LLC lowered its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 14.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 40,562 shares of the financial services provider's stock after selling 7,007 shares during the period. Intercontinental Exchange comprises about 1.0% of Sendero Wealth Management LLC's investment portfolio, making the stock its 25th biggest position. Sendero Wealth Management LLC's holdings in Intercontinental Exchange were worth $6,997,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Strategic Advisors LLC increased its holdings in shares of Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock worth $201,000 after buying an additional 66 shares during the period. Johnson Investment Counsel Inc. grew its position in Intercontinental Exchange by 2.3% during the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock worth $465,000 after acquiring an additional 71 shares during the last quarter. Quadcap Wealth Management LLC grew its position in Intercontinental Exchange by 1.2% during the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock worth $918,000 after acquiring an additional 71 shares during the last quarter. Colonial Trust Co SC increased its stake in Intercontinental Exchange by 11.7% in the 4th quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock worth $102,000 after purchasing an additional 72 shares during the period. Finally, Sprott Inc. lifted its position in Intercontinental Exchange by 2.4% in the fourth quarter. Sprott Inc. now owns 3,085 shares of the financial services provider's stock valued at $460,000 after purchasing an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.4%

ICE stock traded down $0.64 on Thursday, reaching $178.49. 2,438,359 shares of the company traded hands, compared to its average volume of 3,012,668. The firm has a fifty day simple moving average of $168.33 and a 200-day simple moving average of $163.12. The company has a market cap of $102.38 billion, a P/E ratio of 37.34, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a one year low of $132.93 and a one year high of $180.89. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 12.95% and a net margin of 23.42%. The company's revenue was up 8.0% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America decreased their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. UBS Group lifted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Finally, Barclays upped their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.

Insiders Place Their Bets

In other news, Director Judith A. Sprieser sold 2,630 shares of the business's stock in a transaction on Wednesday, April 16th. The stock was 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 owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 552 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total transaction of $96,335.04. Following the transaction, the insider now owns 15,658 shares in the company, valued at $2,732,634.16. This represents a 3.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,191 shares of company stock valued at $694,978. Insiders own 1.00% of the company's stock.

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.