Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 314,186 shares of the financial services provider’s stock after selling 45,823 shares during the quarter. Cannell & Spears LLC owned 0.05% of Intercontinental Exchange worth $46,817,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Summit Financial LLC grew its stake in Intercontinental Exchange by 14.7% in the 4th quarter. Summit Financial LLC now owns 5,828 shares of the financial services provider’s stock valued at $868,000 after acquiring an additional 747 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Intercontinental Exchange by 8.6% during the 4th quarter. Alliancebernstein L.P. now owns 1,782,897 shares of the financial services provider’s stock worth $265,669,000 after purchasing an additional 141,470 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Intercontinental Exchange by 8.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 62,846 shares of the financial services provider’s stock worth $9,365,000 after buying an additional 4,857 shares in the last quarter. United Bank raised its holdings in shares of Intercontinental Exchange by 6.8% in the fourth quarter. United Bank now owns 12,646 shares of the financial services provider’s stock worth $1,884,000 after acquiring an additional 802 shares during the last quarter. Finally, RWA Wealth Partners LLC boosted its stake in shares of Intercontinental Exchange by 8.7% during the fourth quarter. RWA Wealth Partners LLC now owns 15,424 shares of the financial services provider’s stock valued at $2,298,000 after acquiring an additional 1,233 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 1.0 %

Shares of ICE stock opened at $174.65 on Monday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. The firm’s 50 day moving average price is $167.12 and its two-hundred day moving average price is $160.57. The stock has a market cap of $100.35 billion, a price-to-earnings ratio of 36.54, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. 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 announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. 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 currently 40.17%.

Insider Activity at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ICE. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Barclays boosted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock 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 investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.80.

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.