Iridian Asset Management LLC CT Sells 6,247 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Iridian Asset Management LLC CT lessened its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 27.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,117 shares of the financial services provider's stock after selling 6,247 shares during the quarter. Iridian Asset Management LLC CT's holdings in Intercontinental Exchange were worth $2,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Rehmann Capital Advisory Group boosted its holdings in shares of Intercontinental Exchange by 2.7% in the first quarter. Rehmann Capital Advisory Group now owns 7,219 shares of the financial services provider's stock valued at $1,245,000 after buying an additional 189 shares during the period. Greenleaf Trust boosted its stake in Intercontinental Exchange by 2.5% in the 1st quarter. Greenleaf Trust now owns 16,517 shares of the financial services provider's stock worth $2,849,000 after purchasing an additional 399 shares during the period. DekaBank Deutsche Girozentrale increased its holdings in Intercontinental Exchange by 0.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 442,601 shares of the financial services provider's stock worth $76,384,000 after purchasing an additional 1,753 shares in the last quarter. Personal CFO Solutions LLC acquired a new stake in shares of Intercontinental Exchange in the 1st quarter valued at about $230,000. Finally, AlphaStar Capital Management LLC raised its stake in shares of Intercontinental Exchange by 9.0% in the 1st quarter. AlphaStar Capital Management LLC now owns 15,141 shares of the financial services provider's stock valued at $2,612,000 after purchasing an additional 1,248 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president owned 27,313 shares of the company's stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the transaction, the general counsel directly owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,749 shares of company stock worth $40,942,387 in the last three months. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE traded down $0.29 during midday trading on Wednesday, reaching $180.70. The stock had a trading volume of 94,107 shares, compared to its average volume of 2,975,288. The firm has a market cap of $103.65 billion, a PE ratio of 37.38, a P/E/G ratio of 1.97 and a beta of 1.11. The firm has a 50 day simple moving average of $177.83 and a 200-day simple moving average of $167.07. Intercontinental Exchange Inc. has a one year low of $140.32 and a one year high of $183.99. 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 posted its quarterly earnings results 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. The business had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. Intercontinental Exchange's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.48 earnings per share. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's payout ratio is presently 39.75%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ICE shares. UBS Group upped their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley lifted their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Finally, Barclays increased their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $189.62.

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.

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