Lbp Am Sa Cuts Position in Intercontinental Exchange Inc. (NYSE:ICE)

LBP AM SA cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 76.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,474 shares of the financial services provider's stock after selling 132,035 shares during the period. LBP AM SA's holdings in Intercontinental Exchange were worth $6,982,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ICE. Governors Lane LP lifted its holdings in Intercontinental Exchange by 88.0% during the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after buying an additional 59,500 shares in the last quarter. Tema Etfs LLC acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $1,107,000. Ilmarinen Mutual Pension Insurance Co lifted its position in Intercontinental Exchange by 61.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 157,800 shares of the financial services provider's stock valued at $23,514,000 after purchasing an additional 59,800 shares during the period. SouthState Corp lifted its holdings in Intercontinental Exchange by 4.5% in the fourth quarter. SouthState Corp now owns 66,417 shares of the financial services provider's stock valued at $9,897,000 after buying an additional 2,851 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Intercontinental Exchange by 18.3% in the first quarter. Sequoia Financial Advisors LLC now owns 12,168 shares of the financial services provider's stock valued at $2,099,000 after buying an additional 1,879 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the transaction, the chief executive officer owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. Bank of America lowered their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday. Morgan Stanley upped their price target 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. Finally, Barclays raised their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average price target of $192.58.

Intercontinental Exchange Stock Performance

Shares of NYSE ICE traded down $1.37 during trading on Friday, reaching $180.45. 1,576,878 shares of the stock traded hands, compared to its average volume of 2,973,335. 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 has a market capitalization of $103.51 billion, a P/E ratio of 37.36, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. Intercontinental Exchange Inc. has a 52-week low of $142.29 and a 52-week high of $183.99. The company has a 50-day moving average of $178.47 and a 200-day moving average of $167.60.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. The company 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%. Intercontinental Exchange's revenue was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $1.48 earnings per share. Analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

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.