Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by MainStreet Investment Advisors LLC

MainStreet Investment Advisors LLC lessened its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 23,934 shares of the financial services provider’s stock after selling 589 shares during the period. MainStreet Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $3,566,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Man Group plc increased its holdings in shares of Intercontinental Exchange by 88.6% in the fourth quarter. Man Group plc now owns 209,494 shares of the financial services provider’s stock valued at $31,217,000 after purchasing an additional 98,437 shares during the last quarter. Nearwater Capital Markets Ltd purchased a new position in Intercontinental Exchange in the fourth quarter worth approximately $25,332,000. NorthRock Partners LLC grew its position in Intercontinental Exchange by 108.2% in the fourth quarter. NorthRock Partners LLC now owns 7,565 shares of the financial services provider’s stock worth $1,127,000 after acquiring an additional 3,931 shares during the period. Numerai GP LLC purchased a new position in Intercontinental Exchange in the fourth quarter worth approximately $3,033,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Intercontinental Exchange in the fourth quarter worth approximately $4,526,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ICE. JPMorgan Chase & Co. lowered their price objective 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. UBS Group increased 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. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Finally, Barclays increased their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Intercontinental Exchange Trading Down 0.3%

ICE opened at $172.86 on Wednesday. Intercontinental Exchange, Inc. has a 52 week low of $131.79 and a 52 week high of $179.44. The business has a fifty day simple moving average of $167.03 and a 200-day simple moving average of $161.07. The firm has a market cap of $99.16 billion, a P/E ratio of 36.16, a P/E/G ratio of 2.10 and a beta of 1.12. 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 (NYSE:ICE) last released its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period last year, the business posted $1.48 earnings per share. On average, equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.11%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the transaction, 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. Over the last three months, insiders sold 42,368 shares of company stock worth $7,077,789. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange 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.