Senator Investment Group LP Sells 93,851 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Senator Investment Group LP lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 18.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 414,574 shares of the financial services provider's stock after selling 93,851 shares during the quarter. Intercontinental Exchange makes up 1.8% of Senator Investment Group LP's holdings, making the stock its 16th biggest holding. Senator Investment Group LP owned approximately 0.07% of Intercontinental Exchange worth $61,776,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $1,196,258,000. Raymond James Financial Inc. acquired a new position in Intercontinental Exchange in the fourth quarter valued at $406,728,000. Swedbank AB lifted its stake in shares of Intercontinental Exchange by 2,293.3% in the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider's stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the period. AMF Tjanstepension AB boosted its position in shares of Intercontinental Exchange by 1,237.7% during the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider's stock valued at $253,591,000 after purchasing an additional 1,574,386 shares in the last quarter. Finally, Independent Franchise Partners LLP grew its stake in Intercontinental Exchange by 20.8% during the fourth quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider's stock worth $918,026,000 after purchasing an additional 1,062,904 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Royal Bank of Canada reiterated an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Bank of America reduced their target price on Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. Finally, UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and an average target price of $182.47.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the firm's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the transaction, the president now owns 164,041 shares in the company, valued at approximately $27,183,234.11. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,931 shares of company stock worth $10,492,868. Corporate insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Up 0.3 %

Shares of NYSE:ICE traded up $0.42 on Friday, hitting $163.40. The company had a trading volume of 1,642,782 shares, compared to its average volume of 2,927,987. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $166.46 and its two-hundred day simple moving average is $160.45. The firm has a market capitalization of $93.87 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.10 and a beta of 1.09.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.18%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 40.17%.

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.