Jackson Square Capital LLC Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Jackson Square Capital LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 32.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,853 shares of the financial services provider's stock after selling 2,848 shares during the quarter. Jackson Square Capital LLC's holdings in Intercontinental Exchange were worth $1,010,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after acquiring an additional 538,670 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intercontinental Exchange by 2.8% during the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock worth $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Intercontinental Exchange by 132.9% during 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. Norges Bank purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth about $1,196,258,000. Finally, Northern Trust Corp lifted its holdings in shares of Intercontinental Exchange by 9.7% in the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after buying an additional 655,247 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 sale, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 397 shares of the company's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the sale, the director now owns 4,526 shares in the company, valued at approximately $801,599.86. This trade represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock valued at $40,796,663 over the last 90 days. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, Bank of America decreased their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $188.46.

Intercontinental Exchange Price Performance

ICE stock traded down $0.78 during mid-day trading on Friday, hitting $178.30. 2,500,290 shares of the stock were exchanged, compared to its average volume of 3,014,142. Intercontinental Exchange, Inc. has a 12 month low of $133.97 and a 12 month 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. The business has a fifty day moving average price of $170.32 and a 200 day moving average price of $164.04. The stock has a market capitalization of $102.28 billion, a price-to-earnings ratio of 37.30, a PEG ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for 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 firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 1.08%. Intercontinental Exchange's payout ratio is 39.75%.

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.