Nippon Life Global Investors Americas Inc. Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Nippon Life Global Investors Americas Inc. lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,170 shares of the financial services provider's stock after selling 220,440 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in Intercontinental Exchange were worth $14,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $25,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $33,000. Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $34,000. BankPlus Trust Department purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $45,000. Hedge funds and other institutional investors own 89.30% of the company's stock.

Insider Activity

In related news, President Benjamin Jackson sold 7,900 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company's stock, valued at $25,247,181.82. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 62,931 shares of company stock worth $10,492,868 over the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded up $0.42 on Friday, hitting $163.40. 1,642,782 shares of the company were exchanged, compared to its average volume of 2,930,081. The firm has a market capitalization of $93.87 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. The stock's 50 day moving average price is $166.46 and its 200 day moving average price is $160.44. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $177.45. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.18%. Intercontinental Exchange's dividend payout ratio is presently 40.17%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ICE shares. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Bank of America cut their price objective 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. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.47.

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.