Intercontinental Exchange, Inc. (NYSE:ICE) Position Cut by Kensico Capital Management Corp

Kensico Capital Management Corp cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 814,300 shares of the financial services provider's stock after selling 12,800 shares during the period. Intercontinental Exchange comprises about 2.8% of Kensico Capital Management Corp's holdings, making the stock its 14th largest holding. Kensico Capital Management Corp owned about 0.14% of Intercontinental Exchange worth $121,339,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ICE. Principal Financial Group Inc. grew its holdings in Intercontinental Exchange by 3.7% during the 3rd quarter. Principal Financial Group Inc. now owns 656,874 shares of the financial services provider's stock worth $105,520,000 after acquiring an additional 23,638 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Intercontinental Exchange by 1.1% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. Czech National Bank lifted its position in Intercontinental Exchange by 6.4% during the 4th quarter. Czech National Bank now owns 124,493 shares of the financial services provider's stock worth $18,551,000 after acquiring an additional 7,535 shares during the period. Aprio Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $237,000. Finally, Fiduciary Alliance LLC increased its holdings in shares of Intercontinental Exchange by 40.9% in the fourth quarter. Fiduciary Alliance LLC now owns 24,093 shares of the financial services provider's stock valued at $3,590,000 after purchasing an additional 6,991 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.0%

ICE traded down $0.08 during trading hours on Wednesday, reaching $172.76. 353,263 shares of the stock traded hands, compared to its average volume of 2,951,257. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44. The company has a market cap of $99.10 billion, a price-to-earnings ratio of 36.14, a PEG 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. The firm's fifty day simple moving average is $167.03 and its two-hundred day simple moving average is $161.07.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results 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. 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 firm earned $1.48 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.11%. Intercontinental Exchange's dividend payout ratio is presently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the transaction, the insider now owns 17,972 shares of the company's stock, valued at $3,001,144.28. This trade represents a 27.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business's 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 owns 21,364 shares of the company's stock, valued at $3,396,876. This trade represents 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 42,368 shares of company stock valued at $7,077,789 in the last three months. Corporate insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Bank of America lowered their target price 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. JPMorgan Chase & Co. cut their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a report on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $185.93.

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.