Zurich Insurance Group Ltd FI Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Zurich Insurance Group Ltd FI cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,231 shares of the financial services provider's stock after selling 10,542 shares during the period. Zurich Insurance Group Ltd FI's holdings in Intercontinental Exchange were worth $29,836,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ICE. Ritholtz Wealth Management increased its stake in Intercontinental Exchange by 11.8% during the fourth quarter. Ritholtz Wealth Management now owns 5,221 shares of the financial services provider's stock worth $778,000 after purchasing an additional 552 shares during the period. Merit Financial Group LLC increased its stake in Intercontinental Exchange by 125.0% during the fourth quarter. Merit Financial Group LLC now owns 8,231 shares of the financial services provider's stock worth $1,227,000 after purchasing an additional 4,573 shares during the period. UMB Bank n.a. increased its stake in Intercontinental Exchange by 21.6% during the fourth quarter. UMB Bank n.a. now owns 13,399 shares of the financial services provider's stock worth $1,997,000 after purchasing an additional 2,381 shares during the period. Guinness Asset Management LTD increased its stake in Intercontinental Exchange by 9.9% during the fourth quarter. Guinness Asset Management LTD now owns 273,299 shares of the financial services provider's stock worth $40,724,000 after purchasing an additional 24,660 shares during the period. Finally, Cove Private Wealth LLC increased its stake in Intercontinental Exchange by 275.0% during the fourth quarter. Cove Private Wealth LLC now owns 5,625 shares of the financial services provider's stock worth $838,000 after purchasing an additional 4,125 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $176.61 on Tuesday. The firm has a market capitalization of $101.31 billion, a P/E ratio of 36.95, a P/E/G ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm's 50 day moving average is $167.46 and its two-hundred day moving average is $161.42.

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 business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company's revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. Research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange's payout ratio is currently 39.75%.

Insider Activity

In other news, President Benjamin Jackson sold 17,104 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares of the company's stock, valued at approximately $25,855,091.88. This represents a 9.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 21,364 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 34,468 shares of company stock valued at $5,763,545. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ICE shares. Bank of America cut their price target 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 upped 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. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Finally, Barclays upped their target price 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. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus price target of $185.93.

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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