Ninety One UK Ltd Sells 259,530 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Ninety One UK Ltd lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 17.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,229,759 shares of the financial services provider's stock after selling 259,530 shares during the period. Ninety One UK Ltd owned 0.21% of Intercontinental Exchange worth $212,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after acquiring an additional 91 shares in the last quarter. Tsfg LLC boosted its holdings in Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares in the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $29,000. Rakuten Securities Inc. boosted its holdings in Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock worth $29,000 after acquiring an additional 143 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new position in Intercontinental Exchange in the first quarter worth approximately $31,000. Institutional investors own 89.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group increased their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley increased their price objective on 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 lowered their price objective 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. Barclays increased their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $192.58.

Intercontinental Exchange Trading Down 0.8%

ICE stock traded down $1.37 on Friday, reaching $180.45. The company's stock had a trading volume of 1,576,878 shares, compared to its average volume of 2,973,335. The business has a fifty day simple moving average of $178.47 and a two-hundred day simple moving average of $167.60. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99. The firm has a market cap of $103.51 billion, a PE ratio of 37.36, a PEG ratio of 1.99 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share 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 firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The business's revenue for the quarter was up 8.0% on a year-over-year basis. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.06%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Buying and Selling

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

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.