Pinnacle Wealth Planning Services Inc. Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Pinnacle Wealth Planning Services Inc. trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 17.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,098 shares of the financial services provider’s stock after selling 856 shares during the period. Pinnacle Wealth Planning Services Inc.’s holdings in Intercontinental Exchange were worth $611,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Janus Henderson Group PLC increased its holdings in Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after acquiring an additional 3,460,096 shares during the period. Raymond James Financial Inc. bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $406,728,000. FMR LLC increased its holdings in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the period. Swedbank AB increased its holdings in Intercontinental Exchange by 2,293.3% during the 4th quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after acquiring an additional 2,123,185 shares during the period. Finally, Two Sigma Advisers LP increased its holdings in Intercontinental Exchange by 285.9% during the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after acquiring an additional 1,301,200 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $169.67 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $175.41. The stock has a market capitalization of $97.48 billion, a price-to-earnings ratio of 35.50, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company has a fifty day moving average of $159.06 and a 200-day moving average of $159.19. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results 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 net margin of 23.42% and a return on equity of 12.95%. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed 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 of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group boosted their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, Barclays boosted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Insiders Place Their Bets

In related news, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares in the company, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,268 shares of company stock worth $11,262,789. 1.10% of the stock is currently owned by corporate 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.