Tealwood Asset Management Inc. Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Tealwood Asset Management Inc. cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 26.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,258 shares of the financial services provider's stock after selling 4,138 shares during the period. Tealwood Asset Management Inc.'s holdings in Intercontinental Exchange were worth $1,942,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ICE. First Affirmative Financial Network raised its stake in Intercontinental Exchange by 8.4% during the 1st quarter. First Affirmative Financial Network now owns 1,838 shares of the financial services provider's stock valued at $317,000 after purchasing an additional 142 shares during the period. Procyon Advisors LLC boosted its stake in shares of Intercontinental Exchange by 300.9% during the first quarter. Procyon Advisors LLC now owns 43,306 shares of the financial services provider's stock valued at $7,470,000 after purchasing an additional 32,504 shares during the period. Magnus Financial Group LLC purchased a new stake in Intercontinental Exchange in the first quarter worth about $228,000. Generali Investments Management Co LLC lifted its position in shares of Intercontinental Exchange by 12.6% during the first quarter. Generali Investments Management Co LLC now owns 6,035 shares of the financial services provider's stock valued at $1,041,000 after buying an additional 675 shares during the last quarter. Finally, Fjell Capital LLC lifted its position in shares of Intercontinental Exchange by 1.7% during the first quarter. Fjell Capital LLC now owns 5,897 shares of the financial services provider's stock valued at $1,017,000 after buying an additional 98 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Morgan Stanley increased their price objective 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. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Barclays boosted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $188.46.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 552 shares of the stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $174.52, for a total value of $96,335.04. Following the sale, the insider now directly owns 15,658 shares in the company, valued at approximately $2,732,634.16. This trade represents a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 226,354 shares of company stock valued at $40,512,695 over the last quarter. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Up 0.1%

Intercontinental Exchange stock opened at $178.70 on Friday. Intercontinental Exchange, Inc. has a 1 year low of $132.93 and a 1 year high of $180.89. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $102.51 billion, a price-to-earnings ratio of 37.38, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The firm's 50 day moving average price is $168.60 and its two-hundred day moving average price is $163.40.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion for 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%. Intercontinental Exchange's revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 EPS. On average, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. 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.

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