Lazard Asset Management LLC Has $1.22 Billion Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Lazard Asset Management LLC trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,202,870 shares of the financial services provider's stock after selling 1,057,371 shares during the period. Intercontinental Exchange comprises 1.8% of Lazard Asset Management LLC's investment portfolio, making the stock its 6th largest position. Lazard Asset Management LLC owned 1.43% of Intercontinental Exchange worth $1,222,308,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC raised its holdings in Intercontinental Exchange by 1.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock valued at $5,647,000 after acquiring an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock valued at $11,022,000 after purchasing an additional 4,787 shares during the last quarter. Governors Lane LP grew its holdings in Intercontinental Exchange by 88.0% in the 4th quarter. Governors Lane LP now owns 127,100 shares of the financial services provider's stock worth $18,939,000 after buying an additional 59,500 shares in the last quarter. Avantra Family Wealth Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter valued at $702,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its position in shares of Intercontinental Exchange by 9.2% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after buying an additional 61,110 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ICE. Bank of America decreased their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research note on Wednesday, April 2nd. StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. UBS Group boosted their price objective 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. Finally, JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and a consensus price target of $185.93.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the 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 transaction, the president now owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the company's stock in a transaction 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 sale, the director now owns 21,364 shares of the company's stock, valued at approximately $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. In the last three months, insiders sold 42,368 shares of company stock valued at $7,077,789. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $2.97 during trading on Thursday, reaching $174.91. The stock had a trading volume of 2,563,578 shares, compared to its average volume of 2,971,975. The business's 50-day moving average price is $167.04 and its 200 day moving average price is $161.14. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The stock has a market capitalization of $100.33 billion, a PE ratio of 36.59, 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.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the company posted $1.48 EPS. The company's revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange's payout ratio is presently 39.75%.

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.