Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,368,104 shares of the financial services provider's stock after selling 86,015 shares during the period. Intercontinental Exchange accounts for 2.4% of Vaughan Nelson Investment Management L.P.'s investment portfolio, making the stock its 3rd biggest holding. Vaughan Nelson Investment Management L.P. owned 0.24% of Intercontinental Exchange worth $235,999,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Intercontinental Exchange during the 4th quarter worth $1,196,258,000. Royal Bank of Canada lifted its position in Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in Intercontinental Exchange by 423.8% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth $406,728,000. Finally, GAMMA Investing LLC lifted its position in Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $0.78 during mid-day trading on Friday, hitting $178.30. The company's stock had a trading volume of 2,500,290 shares, compared to its average volume of 3,020,161. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $102.28 billion, a price-to-earnings ratio of 37.30, a P/E/G ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a fifty-two week low of $133.97 and a fifty-two week high of $180.89. The stock has a fifty day moving average of $170.32 and a 200-day moving average of $164.06.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.47 billion for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.48 earnings per share. As a group, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Insiders Place Their Bets

In other news, CAO James W. Namkung sold 612 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer now directly owns 13,220 shares of the company's stock, valued at $2,379,600. This represents a 4.42% 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, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the sale, the director now directly owns 4,526 shares in the company, valued at $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 227,954 shares of company stock valued at $40,796,663. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.