Russell Investments Group Ltd. Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Russell Investments Group Ltd. decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 13.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 455,715 shares of the financial services provider’s stock after selling 69,521 shares during the period. Russell Investments Group Ltd.’s holdings in Intercontinental Exchange were worth $41,241,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. IMA Wealth Inc. bought a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $28,000. WASHINGTON TRUST Co increased its stake in shares of Intercontinental Exchange by 173.9% during the third quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Intercontinental Exchange by 48.4% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 319 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 104 shares in the last quarter. FinTrust Capital Advisors LLC increased its stake in shares of Intercontinental Exchange by 119.3% during the second quarter. FinTrust Capital Advisors LLC now owns 364 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 198 shares in the last quarter. Finally, MV Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 90.2% during the third quarter. MV Capital Management Inc. now owns 428 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 203 shares in the last quarter. Institutional investors own 87.28% of the company’s stock.

Intercontinental Exchange Stock Down 2.2 %

ICE opened at $106.25 on Wednesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.04 and a current ratio of 1.04. Intercontinental Exchange, Inc. has a fifty-two week low of $88.60 and a fifty-two week high of $137.40. The firm’s fifty day moving average is $105.10 and its 200 day moving average is $100.92. The stock has a market cap of $59.35 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 3.66 and a beta of 0.91.

Intercontinental Exchange (NYSE:ICEGet Rating) last released its earnings results on Thursday, November 3rd. The financial services provider reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. Intercontinental Exchange had a net margin of 26.58% and a return on equity of 13.38%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 5.31 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Thursday, December 15th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date was Wednesday, December 14th. Intercontinental Exchange’s dividend payout ratio (DPR) is 33.70%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ICE shares. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $116.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intercontinental Exchange from $134.00 to $131.00 in a research report on Wednesday, January 11th. Bank of America raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their price target for the company from $116.00 to $132.00 in a research report on Thursday, November 17th. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Saturday, November 12th. Finally, Citigroup raised their price target on shares of Intercontinental Exchange from $102.00 to $110.00 in a research report on Thursday, January 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $132.25.

Insider Activity at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $105.98, for a total transaction of $169,568.00. Following the transaction, the senior vice president now owns 20,934 shares in the company, valued at approximately $2,218,585.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 30,000 shares of Intercontinental Exchange stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $105.37, for a total value of $3,161,100.00. Following the sale, the chief executive officer now directly owns 2,971,705 shares in the company, valued at approximately $313,128,555.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $105.98, for a total transaction of $169,568.00. Following the completion of the sale, the senior vice president now owns 20,934 shares in the company, valued at $2,218,585.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,100 shares of company stock worth $3,593,168. 1.30% of the stock is owned by corporate insiders.

About Intercontinental Exchange

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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