Nuveen Asset Management LLC Lowers Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Nuveen Asset Management LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,740,442 shares of the financial services provider's stock after selling 377,570 shares during the period. Nuveen Asset Management LLC owned approximately 0.65% of Intercontinental Exchange worth $557,363,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Sierra Ocean LLC purchased a new position in Intercontinental Exchange in the 4th quarter worth approximately $25,000. Redwood Park Advisors LLC bought a new stake in Intercontinental Exchange during the fourth quarter worth about $33,000. Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange during the fourth quarter worth about $34,000. BankPlus Trust Department purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $40,000. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $44,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Trading Down 0.2%

NYSE:ICE traded down $0.42 during mid-day trading on Tuesday, reaching $176.33. 533,811 shares of the company's stock traded hands, compared to its average volume of 3,290,609. The company has a 50 day moving average price of $167.46 and a 200-day moving average price of $161.42. The firm has a market capitalization of $101.15 billion, a price-to-earnings ratio of 36.88, 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. Intercontinental Exchange, Inc. has a 12-month low of $131.79 and a 12-month high of $179.43.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period last year, the company earned $1.48 EPS. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

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

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange 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 sale, the director now directly owns 21,364 shares in the company, 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 ninety days, insiders have sold 34,468 shares of company stock valued at $5,763,545. 1.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on ICE. Morgan Stanley upped their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Barclays upped their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Bank of America cut their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. Finally, StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and an average 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.