Oppenheimer Asset Management Inc. Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Oppenheimer Asset Management Inc. decreased its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 112,407 shares of the financial services provider’s stock after selling 8,918 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Intercontinental Exchange were worth $16,750,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock worth $3,799,393,000 after buying an additional 281,503 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock worth $1,848,868,000 after buying an additional 169,922 shares during the last quarter. FMR LLC boosted its stake in shares of Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after buying an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC boosted its position in Intercontinental Exchange by 4.0% during the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after purchasing an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after purchasing an additional 390,332 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $170.74 on Thursday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $172.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $98.10 billion, a PE ratio of 35.72, a P/E/G ratio of 2.10 and a beta of 1.11. The stock has a 50 day moving average price of $156.50 and a 200 day moving average price of $158.54.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS 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%. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced 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 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 40.17%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ICE. Keefe, Bruyette & Woods increased 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. UBS Group increased their price target 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. Barclays increased 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, JPMorgan Chase & Co. lowered their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares of the company’s stock, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 60,368 shares of company stock valued at $9,908,492 over the last quarter. 1.10% of the stock is owned by 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.