Ninety One North America Inc. Cuts Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Ninety One North America Inc. lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 13.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,138 shares of the financial services provider's stock after selling 1,618 shares during the period. Ninety One North America Inc.'s holdings in Intercontinental Exchange were worth $1,749,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC increased 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 acquiring an additional 1,169 shares in the last quarter. Assetmark Inc. increased its position in shares of Intercontinental Exchange by 7.8% in the fourth quarter. Assetmark Inc. now owns 17,762 shares of the financial services provider's stock worth $2,647,000 after acquiring an additional 1,281 shares in the last quarter. Proficio Capital Partners LLC increased 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 acquiring an additional 606 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $214,000. Finally, Andra AP fonden acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $1,624,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $183.01 on Tuesday. The firm has a market cap of $104.98 billion, a P/E ratio of 37.89, a P/E/G ratio of 1.98 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. Intercontinental Exchange Inc. has a 1-year low of $140.32 and a 1-year high of $183.99. The firm has a fifty day moving average of $177.54 and a two-hundred day moving average of $166.98.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate 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%. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business earned $1.48 EPS. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm 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 1.05%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Buying and Selling

In other news, SVP Douglas Foley sold 1,600 shares of the firm's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $177.48, for a total value of $283,968.00. Following the transaction, the senior vice president directly owned 27,313 shares in the company, valued at approximately $4,847,511.24. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the firm'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 90 days, insiders sold 228,749 shares of company stock worth $40,942,387. Company insiders own 1.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ICE. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. 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. Keefe, Bruyette & Woods lifted their price target 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. Finally, Morgan Stanley lifted their price target 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. 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, Intercontinental Exchange presently has an average rating of "Moderate Buy" and a consensus price target 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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