Intercontinental Exchange Inc. (NYSE:ICE) Shares Sold by Lbp Am Sa

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

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Intercontinental Exchange during the 4th quarter valued at approximately $1,196,258,000. Royal Bank of Canada raised its position in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after buying an additional 1,993,084 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 2,101,705 shares in the company, valued at $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company's stock, valued at approximately $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 228,749 shares of company stock worth $40,942,387. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Barclays raised their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the company an "overweight" rating in a research report on Thursday. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Bank of America cut their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. UBS Group increased their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $192.58.

Intercontinental Exchange Trading Down 0.8%

ICE traded down $1.37 on Friday, hitting $180.45. The company had a trading volume of 1,576,878 shares, compared to its average volume of 2,973,335. The company has a market cap of $103.51 billion, a PE ratio of 37.36, a PEG ratio of 1.99 and a beta of 1.11. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The business's fifty day simple moving average is $178.47 and its 200 day simple moving average is $167.60.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the business earned $1.48 earnings per share. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. Equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.06%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

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.