Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Destination Wealth Management

Destination Wealth Management reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 168,921 shares of the financial services provider’s stock after selling 3,907 shares during the period. Destination Wealth Management’s holdings in Intercontinental Exchange were worth $25,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after acquiring an additional 281,503 shares during the period. Geode Capital Management LLC boosted its stake in Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after acquiring an additional 169,922 shares during the period. FMR LLC boosted its stake in Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Parnassus Investments LLC raised its holdings in shares of Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Trading Down 1.1 %

NYSE ICE opened at $169.67 on Friday. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $175.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $97.48 billion, a price-to-earnings ratio of 35.50, a PEG ratio of 2.10 and a beta of 1.08. The firm’s 50 day moving average price is $159.06 and its two-hundred day moving average price is $159.19.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate 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 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at approximately $3,661,008.24. The trade was a 32.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,268 shares of company stock worth $11,262,789. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Barclays lifted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

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.