Envestnet Portfolio Solutions Inc. Sells 4,215 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Envestnet Portfolio Solutions Inc. lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.8% during the 4th quarter, Holdings Channel reports. The fund owned 68,886 shares of the financial services provider’s stock after selling 4,215 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Intercontinental Exchange were worth $10,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sierra Ocean LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $25,000. FSA Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $31,000. BankPlus Trust Department acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $40,000. Golden State Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $51,000. Finally, Hanson & Doremus Investment Management acquired a new stake in shares of Intercontinental Exchange in the 4th quarter worth $55,000. Institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research reports. 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 reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Barclays lifted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $178.80.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares in the company, valued at $9,821,819.32. The trade was a 7.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the transaction, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 67,313 shares of company stock worth $11,113,733. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $171.28 on Monday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $175.41. The business has a 50-day moving average price of $161.47 and a 200 day moving average price of $159.63. The firm has a market cap of $98.41 billion, a PE ratio of 35.83, a P/E/G ratio of 2.10 and a beta of 1.08.

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%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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 paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.12%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 40.17%.

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.