Cresset Asset Management LLC Sells 28,181 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Cresset Asset Management LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 19.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,314 shares of the financial services provider's stock after selling 28,181 shares during the period. Cresset Asset Management LLC's holdings in Intercontinental Exchange were worth $17,630,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Advisors LLC raised its stake in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider's stock worth $201,000 after purchasing an additional 66 shares in the last quarter. Commons Capital LLC increased its position in Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider's stock worth $886,000 after buying an additional 69 shares during the last quarter. Brooklyn Investment Group lifted its position in shares of Intercontinental Exchange by 2.2% in the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider's stock valued at $475,000 after buying an additional 70 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in shares of Intercontinental Exchange by 3.7% during the 4th quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider's stock worth $294,000 after acquiring an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in Intercontinental Exchange by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider's stock worth $465,000 after purchasing an additional 71 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Judith A. Sprieser sold 2,630 shares of the business'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 transaction of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares in the company, valued at $3,396,876. The trade was a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now owns 17,972 shares in the company, valued at approximately $3,001,144.28. This represents a 27.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,368 shares of company stock worth $7,077,789. Company insiders own 1.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ICE. Morgan Stanley upped 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 note on Monday, May 5th. Barclays lifted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. 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 reduced their price target on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $185.93.

Intercontinental Exchange Trading Up 1.3 %

Shares of ICE traded up $2.26 during trading hours on Friday, hitting $178.73. 3,313,509 shares of the stock were exchanged, compared to its average volume of 2,947,980. The firm has a market capitalization of $102.52 billion, a P/E ratio of 37.39, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. 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, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44. The business has a 50-day moving average of $166.93 and a 200-day moving average of $161.00.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping analysts' consensus estimates 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 firm's revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. On average, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 1.07%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

About Intercontinental Exchange

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.