Castle Rock Wealth Management LLC Sells 6,179 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Castle Rock Wealth Management LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 40.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,939 shares of the financial services provider's stock after selling 6,179 shares during the quarter. Castle Rock Wealth Management LLC's holdings in Intercontinental Exchange were worth $1,533,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. REAP Financial Group LLC raised its position in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. Sierra Ocean LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Menard Financial Group LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth $29,000. Redwood Park Advisors LLC acquired a new stake in Intercontinental Exchange in the fourth quarter worth $33,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Intercontinental Exchange in the fourth quarter worth $34,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

ICE stock traded down $0.38 during trading hours on Thursday, hitting $178.75. 722,617 shares of the stock traded hands, compared to its average volume of 3,005,976. The stock has a 50-day simple moving average of $168.33 and a 200 day simple moving average of $163.12. Intercontinental Exchange, Inc. has a one year low of $132.93 and a one year high of $180.89. The company has a market cap of $102.54 billion, a P/E ratio of 37.40, a P/E/G ratio of 2.10 and a beta of 1.12. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company posted $1.48 EPS. The business's quarterly revenue was up 8.0% compared to the same quarter last year. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange's payout ratio is 39.75%.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was 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 in the company, valued at approximately $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,191 shares of company stock valued at $694,978. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

ICE has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Morgan Stanley boosted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and an average target price of $188.46.

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.