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

Iridian Asset Management LLC CT reduced its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 27.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of ICE. Brighton Jones LLC boosted its position in shares of Intercontinental Exchange by 51.3% in 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. Proficio Capital Partners LLC boosted its position in shares of Intercontinental Exchange by 37.1% in the fourth quarter. Proficio Capital Partners LLC now owns 2,238 shares of the financial services provider's stock worth $333,000 after purchasing an additional 606 shares during the period. Simplicity Wealth LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $207,000. NBT Bank N A NY lifted its holdings in shares of Intercontinental Exchange by 37.5% in the fourth quarter. NBT Bank N A NY now owns 12,373 shares of the financial services provider's stock worth $1,844,000 after buying an additional 3,374 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intercontinental Exchange by 5.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,363 shares of the financial services provider's stock worth $37,456,000 after acquiring an additional 13,599 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 0.8%

Shares of ICE traded down $1.37 during midday trading on Friday, hitting $180.45. The stock had a trading volume of 1,576,878 shares, compared to its average volume of 2,970,341. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $183.99. The firm has a market cap of $103.51 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 1.97 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50 day moving average is $178.47 and its 200 day moving average is $167.72.

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 for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.48 dividend. 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%.

Insider Transactions at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel directly owned 48,480 shares in the company, valued at approximately $8,683,737.60. This represents a 7.35% 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 company's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director owned 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 228,749 shares of company stock valued at $40,942,387. Company insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Morgan Stanley raised 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. Bank of America cut 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. Keefe, Bruyette & Woods raised 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. Barclays raised their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, UBS Group raised their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $192.58.

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.