Intercontinental Exchange Inc. (NYSE:ICE) Shares Sold by Perpetual Ltd

Perpetual Ltd reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,488,353 shares of the financial services provider's stock after selling 40,500 shares during the quarter. Intercontinental Exchange makes up approximately 3.1% of Perpetual Ltd's portfolio, making the stock its 3rd largest position. Perpetual Ltd owned about 0.26% of Intercontinental Exchange worth $256,741,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ICE. Brighton Jones LLC boosted its holdings in shares of Intercontinental Exchange by 51.3% during the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after purchasing an additional 1,169 shares during the period. Sigma Planning Corp lifted its stake in Intercontinental Exchange by 4.3% in the fourth quarter. Sigma Planning Corp now owns 3,452 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 142 shares during the last quarter. Wealthspire Advisors LLC lifted its stake in Intercontinental Exchange by 12.7% in the fourth quarter. Wealthspire Advisors LLC now owns 2,756 shares of the financial services provider's stock valued at $411,000 after acquiring an additional 311 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $1,166,000. Finally, Los Angeles Capital Management LLC lifted its stake in Intercontinental Exchange by 392.9% in the fourth quarter. Los Angeles Capital Management LLC now owns 72,304 shares of the financial services provider's stock valued at $10,774,000 after acquiring an additional 57,635 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

ICE stock traded up $1.89 on Monday, reaching $183.64. 3,213,979 shares of the company were exchanged, compared to its average volume of 3,001,269. Intercontinental Exchange Inc. has a 12 month low of $136.25 and a 12 month high of $183.76. The stock's fifty day moving average price is $175.53 and its 200 day moving average price is $165.88. The firm has a market capitalization of $105.34 billion, a PE ratio of 38.02, a PEG ratio of 1.96 and a beta of 1.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the firm posted $1.48 earnings per share. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company 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 dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.05%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ICE shares. Bank of America reduced their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Keefe, Bruyette & Woods lifted their target price on shares of 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 lifted their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $188.46.

Insider Activity

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the sale, the director owned 21,364 shares of the company's stock, valued at $3,396,876. The trade was a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock worth $40,796,663 over the last ninety days. Corporate insiders own 1.00% of the company's stock.

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.