Mattern Capital Management LLC Sells 3,071 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Mattern Capital Management LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,573 shares of the financial services provider's stock after selling 3,071 shares during the period. Mattern Capital Management LLC's holdings in Intercontinental Exchange were worth $9,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ICE. Brighton Jones LLC boosted its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after buying an additional 1,169 shares during the period. Sigma Planning Corp boosted its holdings in Intercontinental Exchange by 4.3% in the 4th quarter. Sigma Planning Corp now owns 3,452 shares of the financial services provider's stock worth $514,000 after buying an additional 142 shares during the period. Wealthspire Advisors LLC boosted its holdings in Intercontinental Exchange by 12.7% in the 4th quarter. Wealthspire Advisors LLC now owns 2,756 shares of the financial services provider's stock worth $411,000 after buying an additional 311 shares during the period. Howard Capital Management Inc. boosted its holdings in Intercontinental Exchange by 5.4% in the 4th quarter. Howard Capital Management Inc. now owns 3,511 shares of the financial services provider's stock worth $523,000 after buying an additional 180 shares during the period. Finally, MONECO Advisors LLC bought a new position in Intercontinental Exchange in the 4th quarter worth approximately $264,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $180.85 on Wednesday. The company's 50 day simple moving average is $173.59 and its two-hundred day simple moving average is $165.13. 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 $103.74 billion, a PE ratio of 37.44, a P/E/G ratio of 1.94 and a beta of 1.12. Intercontinental Exchange Inc. has a 1 year low of $136.21 and a 1 year high of $181.65.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $1.48 EPS. Analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now owns 21,364 shares of the company's stock, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 612 shares of the stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the transaction, the chief accounting officer now directly owns 13,220 shares in the company, valued at approximately $2,379,600. This represents a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 227,954 shares of company stock valued at $40,796,663. Insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays raised their price objective 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. Bank of America lowered their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Keefe, Bruyette & Woods increased their target price 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. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $188.46.

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.

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