Gradient Investments LLC Sells 18,951 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Gradient Investments LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,690 shares of the financial services provider's stock after selling 18,951 shares during the quarter. Gradient Investments LLC's holdings in Intercontinental Exchange were worth $16,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ICE. Wesbanco Bank Inc. lifted its holdings in Intercontinental Exchange by 51.8% during the first quarter. Wesbanco Bank Inc. now owns 2,576 shares of the financial services provider's stock worth $354,000 after buying an additional 879 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Intercontinental Exchange by 55.2% during the 1st quarter. Summit Trail Advisors LLC now owns 5,901 shares of the financial services provider's stock worth $811,000 after purchasing an additional 2,100 shares during the last quarter. Principle Wealth Partners LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter worth $207,000. Stonegate Investment Group LLC boosted its position in Intercontinental Exchange by 23.3% during the first quarter. Stonegate Investment Group LLC now owns 2,889 shares of the financial services provider's stock valued at $397,000 after purchasing an additional 545 shares in the last quarter. Finally, Confluence Wealth Services Inc. grew its stake in Intercontinental Exchange by 16.4% in the first quarter. Confluence Wealth Services Inc. now owns 2,678 shares of the financial services provider's stock valued at $368,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

NYSE ICE traded up $3.96 on Friday, hitting $130.50. 3,991,238 shares of the company's stock traded hands, compared to its average volume of 2,404,087. The firm has a market capitalization of $74.73 billion, a PE ratio of 29.93, a P/E/G ratio of 2.08 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. The firm's 50-day moving average price is $135.01 and its two-hundred day moving average price is $125.81. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 EPS for the quarter, meeting the consensus estimate of $1.48. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. The firm's revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.41 earnings per share. As a group, analysts expect that Intercontinental Exchange, Inc. will post 5.95 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange's dividend payout ratio is currently 41.28%.

Analyst Ratings Changes

ICE has been the subject of several analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of Intercontinental Exchange from $156.00 to $155.00 and set an "outperform" rating for the company in a research report on Friday. StockNews.com downgraded shares of Intercontinental Exchange from a "hold" rating to a "sell" rating in a research note on Friday. Barclays reduced their price target on Intercontinental Exchange from $155.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Intercontinental Exchange from $147.00 to $151.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Raymond James upped their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the company a "strong-buy" rating in a research report on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of "Moderate Buy" and a consensus target price of $147.92.

Insider Buying and Selling at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company's stock, valued at approximately $2,164,763.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company's stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares of the company's stock, valued at approximately $6,417,450.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is owned by company insiders.

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.

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