Perpetual Ltd Cuts Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Perpetual Ltd cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,488,353 shares of the financial services provider's stock after selling 40,500 shares during the period. Intercontinental Exchange comprises approximately 3.1% of Perpetual Ltd's holdings, making the stock its 3rd largest position. Perpetual Ltd owned approximately 0.26% of Intercontinental Exchange worth $256,741,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. REAP Financial Group LLC increased its holdings in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after buying an additional 91 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter worth $29,000. Rakuten Securities Inc. grew its holdings in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 143 shares during the period. Global Trust Asset Management LLC bought a new stake in Intercontinental Exchange during the first quarter valued at about $31,000. Finally, Redwood Park Advisors LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $33,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the sale, the chief accounting officer now owns 13,220 shares of the company's stock, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Martha A. Tirinnanzi sold 397 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total value of $70,312.67. Following the transaction, the director now owns 4,526 shares of the company's stock, valued at $801,599.86. This trade represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 227,954 shares of company stock valued at $40,796,663 over the last ninety days. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Price Performance

Shares of ICE stock traded up $0.94 on Friday, reaching $181.74. The company's stock had a trading volume of 2,137,138 shares, compared to its average volume of 3,001,127. The stock's fifty day simple moving average is $174.49 and its 200-day simple moving average is $165.41. Intercontinental Exchange Inc. has a 1 year low of $136.21 and a 1 year high of $182.70. The company has a market capitalization of $104.25 billion, a price-to-earnings ratio of 37.63, a price-to-earnings-growth ratio of 1.95 and a beta of 1.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $1.48 earnings per share. Intercontinental Exchange's quarterly revenue was up 8.0% compared to the same quarter last year. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Analyst Ratings Changes

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

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.