Prudential Financial Inc. Lowers Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Prudential Financial Inc. lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,312 shares of the financial services provider’s stock after selling 23,404 shares during the period. Prudential Financial Inc.’s holdings in Intercontinental Exchange were worth $72,465,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Sierra Ocean LLC bought a new position in Intercontinental Exchange in the 4th quarter worth about $25,000. FSA Wealth Management LLC bought a new position in Intercontinental Exchange in the third quarter worth approximately $31,000. Lee Danner & Bass Inc. purchased a new position in Intercontinental Exchange during the 4th quarter worth $34,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange during the 4th quarter valued at $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth $45,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.5 %

ICE stock opened at $175.27 on Tuesday. The firm’s fifty day moving average is $164.92 and its 200 day moving average is $160.16. The firm has a market cap of $100.70 billion, a PE ratio of 36.67, a P/E/G ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $176.16. 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%. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

Analyst Ratings Changes

ICE has been the topic of several research reports. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Barclays boosted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group increased their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now directly owns 66,548 shares in the company, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is owned by company insiders.

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.