MainStreet Investment Advisors LLC Sells 625 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

MainStreet Investment Advisors LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,309 shares of the financial services provider’s stock after selling 625 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $4,021,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Quotient Wealth Partners LLC increased its position in shares of Intercontinental Exchange by 14.5% during the 1st quarter. Quotient Wealth Partners LLC now owns 2,395 shares of the financial services provider’s stock valued at $413,000 after purchasing an additional 304 shares during the last quarter. Rehmann Capital Advisory Group increased its position in shares of Intercontinental Exchange by 2.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 7,219 shares of the financial services provider’s stock valued at $1,245,000 after purchasing an additional 189 shares during the last quarter. Greenleaf Trust increased its position in shares of Intercontinental Exchange by 2.5% during the 1st quarter. Greenleaf Trust now owns 16,517 shares of the financial services provider’s stock valued at $2,849,000 after purchasing an additional 399 shares during the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Intercontinental Exchange by 0.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 442,601 shares of the financial services provider’s stock valued at $76,384,000 after purchasing an additional 1,753 shares during the last quarter. Finally, Personal CFO Solutions LLC purchased a new stake in shares of Intercontinental Exchange during the 1st quarter valued at $230,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group raised their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday. Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus price target of $191.92.

Intercontinental Exchange Stock Up 0.5%

ICE stock opened at $181.88 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $104.33 billion, a PE ratio of 37.66, a PEG ratio of 1.95 and a beta of 1.11. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $183.99. The stock has a 50-day simple moving average of $178.11 and a two-hundred day simple moving average of $167.17.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates 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 13.27% and a net margin of 22.84%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS. On average, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s payout ratio is presently 39.75%.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the sale, the director owned 15,000 shares of the company’s stock, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 228,749 shares of company stock worth $40,942,387. 1.00% of the stock is owned by corporate insiders.

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.