Intercontinental Exchange, Inc. (NYSE:ICE) Short Interest Down 19.5% in March

Intercontinental Exchange, Inc. (NYSE:ICE) saw a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 5,300,000 shares, a decline of 19.5% from the February 28th total of 6,580,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average trading volume of 3,100,000 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target 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. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $178.80.

Insider Activity

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total transaction of $965,757.88. Following the transaction, the president now owns 164,041 shares in the company, valued at $27,183,234.11. This trade represents a 3.43 % 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, CTO Mayur Kapani sold 5,661 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. The trade was a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intercontinental Exchange

Large investors have recently bought and sold shares of the stock. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange during the 4th quarter worth about $25,000. REAP Financial Group LLC increased its stake in Intercontinental Exchange by 116.7% during the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Menard Financial Group LLC bought a new position in Intercontinental Exchange during the fourth quarter valued at about $29,000. FSA Wealth Management LLC acquired a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $31,000. Finally, Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $33,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.4 %

Shares of NYSE ICE traded down $0.70 during mid-day trading on Wednesday, reaching $170.79. The company had a trading volume of 804,544 shares, compared to its average volume of 3,128,819. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange has a twelve month low of $124.34 and a twelve month high of $177.45. The stock’s 50 day moving average is $167.98 and its 200-day moving average is $160.72. The stock has a market capitalization of $98.13 billion, a PE ratio of 35.70, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released 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 net margin of 23.42% and a return on equity of 12.95%. As a group, equities analysts anticipate that Intercontinental Exchange will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

About Intercontinental Exchange

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.