Janney Montgomery Scott LLC decreased its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.4% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 69,579 shares of the financial services provider's stock after selling 9,879 shares during the period. Janney Montgomery Scott LLC's holdings in Intercontinental Exchange were worth $12,002,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Governors Lane LP raised its stake in shares of Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after acquiring an additional 59,500 shares during the period. National Pension Service increased its holdings in Intercontinental Exchange by 19.1% in the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock valued at $184,644,000 after purchasing an additional 198,311 shares in the last quarter. Hahn Capital Management LLC raised its position in Intercontinental Exchange by 69.8% in the fourth quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock valued at $10,600,000 after purchasing an additional 29,233 shares during the period. Tema Etfs LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $1,107,000. Finally, Otter Creek Advisors LLC lifted its stake in shares of Intercontinental Exchange by 102.2% during the fourth quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider's stock worth $4,952,000 after purchasing an additional 16,797 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.
Intercontinental Exchange Stock Performance
Shares of NYSE ICE traded down $1.50 during trading on Friday, reaching $178.27. The stock had a trading volume of 3,910,144 shares, compared to its average volume of 3,020,936. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $102.26 billion, a PE ratio of 36.91, a P/E/G ratio of 1.94 and a beta of 1.12. Intercontinental Exchange Inc. has a one year low of $134.78 and a one year high of $182.11. The firm's 50 day moving average price is $172.32 and its two-hundred day moving average price is $164.58.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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 firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 earnings per share. On average, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.
Intercontinental Exchange Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.
Insider Buying and Selling
In related news, CAO James W. Namkung sold 612 shares of the company's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 13,220 shares in the company, valued at $2,379,600. This represents a 4.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 227,954 shares of company stock worth $40,796,663 over the last quarter. 1.00% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. Bank of America lowered their target price on 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 lifted their price objective 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. Morgan Stanley upped 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. Finally, Barclays lifted their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $188.46.
View Our Latest Stock Report on ICE
Intercontinental Exchange Profile
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Free Report)
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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