Thompson Investment Management Inc. Cuts Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Thompson Investment Management Inc. reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,823 shares of the financial services provider's stock after selling 2,105 shares during the quarter. Thompson Investment Management Inc.'s holdings in Intercontinental Exchange were worth $6,179,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Governors Lane LP boosted its stake in shares of Intercontinental Exchange by 88.0% during the fourth quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock valued at $18,939,000 after purchasing an additional 59,500 shares in the last quarter. National Pension Service boosted its position in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider's stock worth $184,644,000 after buying an additional 198,311 shares during the period. Hahn Capital Management LLC grew its holdings in Intercontinental Exchange by 69.8% during the 4th quarter. Hahn Capital Management LLC now owns 71,134 shares of the financial services provider's stock worth $10,600,000 after acquiring an additional 29,233 shares during the last quarter. Tema Etfs LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at approximately $1,107,000. Finally, Otter Creek Advisors LLC raised its stake in shares of Intercontinental Exchange by 102.2% during the fourth quarter. Otter Creek Advisors LLC now owns 33,233 shares of the financial services provider's stock valued at $4,952,000 after acquiring an additional 16,797 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.8%

NYSE ICE traded up $1.49 on Thursday, hitting $178.99. 1,841,488 shares of the company were exchanged, compared to its average volume of 3,012,026. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $102.67 billion, a PE ratio of 37.45, a PEG ratio of 2.10 and a beta of 1.12. The stock has a fifty day moving average of $169.77 and a 200-day moving average of $163.92. Intercontinental Exchange, Inc. has a 12 month low of $133.97 and a 12 month high of $180.89.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its 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. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the business posted $1.48 EPS. The firm's revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 39.75%.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 2,101,705 shares in the company, valued at approximately $376,667,570.10. The trade was a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 226,354 shares of company stock worth $40,512,695 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ICE shares. Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Morgan Stanley upped their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Finally, 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. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the company 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.