Reinhart Partners LLC. Sells 3,181 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Reinhart Partners LLC. lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,241 shares of the financial services provider's stock after selling 3,181 shares during the quarter. Reinhart Partners LLC.'s holdings in Intercontinental Exchange were worth $8,149,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ICE. Strategic Advisors LLC raised its position in shares of Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock valued at $201,000 after acquiring an additional 66 shares during the period. Johnson Investment Counsel Inc. raised its position in shares of Intercontinental Exchange by 2.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock valued at $465,000 after acquiring an additional 71 shares during the period. Quadcap Wealth Management LLC raised its position in shares of Intercontinental Exchange by 1.2% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider's stock valued at $918,000 after acquiring an additional 71 shares during the period. Colonial Trust Co SC raised its position in shares of Intercontinental Exchange by 11.7% in the 4th quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider's stock valued at $102,000 after acquiring an additional 72 shares during the period. Finally, Sprott Inc. raised its position in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Sprott Inc. now owns 3,085 shares of the financial services provider's stock valued at $460,000 after acquiring an additional 73 shares during the period. Institutional investors own 89.30% of the company's stock.

Insider Transactions at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares of the company's stock, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Martha A. Tirinnanzi sold 397 shares of the firm's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the transaction, the director now directly owns 4,526 shares of the company's stock, valued at $801,599.86. This represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,354 shares of company stock valued at $40,512,695 in the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Up 0.1%

Shares of ICE traded up $0.14 during mid-day trading on Friday, hitting $178.70. 3,245,175 shares of the company's stock were exchanged, compared to its average volume of 3,023,696. The company has a market cap of $102.51 billion, a PE ratio of 37.38, a P/E/G ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 52 week low of $132.93 and a 52 week high of $180.89. The company has a 50-day simple moving average of $168.60 and a 200 day simple moving average of $163.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business's quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $1.48 EPS. On average, research analysts forecast 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 will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Barclays increased their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. Finally, Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Moderate Buy" and a consensus target price of $188.46.

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.