Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 14.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,048 shares of the financial services provider's stock after selling 14,765 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Intercontinental Exchange were worth $10,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider's stock valued at $1,336,371,000 after acquiring an additional 8,348,126 shares during the period. Norges Bank purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $579,605,000. T. Rowe Price Investment Management Inc. increased its holdings in shares of Intercontinental Exchange by 45.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider's stock valued at $1,755,753,000 after acquiring an additional 5,354,161 shares during the period. Morgan Stanley increased its holdings in shares of Intercontinental Exchange by 18.9% in the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider's stock valued at $2,606,466,000 after acquiring an additional 4,044,744 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Intercontinental Exchange by 59.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider's stock valued at $564,869,000 after acquiring an additional 1,589,999 shares during the period. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Raymond James lifted their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the company a "strong-buy" rating in a report on Friday, January 5th. Citigroup boosted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a "buy" rating in a research note on Thursday, April 4th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an "overweight" rating in a research note on Monday, April 8th. Rosenblatt Securities boosted their target price on Intercontinental Exchange from $154.00 to $164.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. Finally, Bank of America dropped their target price on Intercontinental Exchange from $156.00 to $153.00 and set a "buy" rating on the stock in a research note on Friday. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $148.08.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $0.23 during trading hours on Friday, hitting $131.21. 2,263,528 shares of the stock traded hands, compared to its average volume of 2,162,513. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm's 50 day moving average price is $136.27 and its 200-day moving average price is $124.54. The stock has a market capitalization of $75.13 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.07 and a beta of 1.02. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the business earned $1.25 earnings per share. The company's revenue was up 24.5% compared to the same quarter last year. As a group, equities analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.45 dividend. This is an increase from Intercontinental Exchange's previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. Intercontinental Exchange's dividend payout ratio is presently 42.86%.

Insider Transactions at Intercontinental Exchange

In other news, insider Elizabeth Kathryn King sold 3,783 shares of the company's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the sale, the insider now owns 17,242 shares in the company, valued at $2,276,461.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the transaction, the chief executive officer now owns 1,179,895 shares in the company, valued at $161,893,392.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Elizabeth Kathryn King sold 3,783 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the transaction, the insider now owns 17,242 shares in the company, valued at approximately $2,276,461.26. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock worth $21,454,204 over the last quarter. 1.10% of the stock is currently owned by insiders.

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.