Graypoint LLC Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Graypoint LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 7.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,817 shares of the financial services provider’s stock after selling 467 shares during the quarter. Graypoint LLC’s holdings in Intercontinental Exchange were worth $747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of Intercontinental Exchange by 219.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after purchasing an additional 8,348,126 shares during the last quarter. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at $579,605,000. T. Rowe Price Investment Management Inc. increased its position in shares of Intercontinental Exchange by 45.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock valued at $1,755,753,000 after purchasing an additional 5,354,161 shares during the last quarter. Morgan Stanley increased its position in shares of Intercontinental Exchange by 18.9% during the 4th quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock valued at $2,606,466,000 after purchasing an additional 4,044,744 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Intercontinental Exchange by 59.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 1,589,999 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ICE shares. Barclays raised their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. UBS Group increased their price target on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 price target on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $147.08.

Get Our Latest Analysis on Intercontinental Exchange

Intercontinental Exchange Stock Up 0.1 %

Shares of NYSE ICE opened at $133.55 on Friday. The business has a 50-day simple moving average of $136.22 and a two-hundred day simple moving average of $123.78. Intercontinental Exchange, Inc. has a 52 week low of $103.81 and a 52 week high of $140.43. The company has a market cap of $76.47 billion, a P/E ratio of 31.80, a P/E/G ratio of 2.12 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICEGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. During the same quarter last year, the firm posted $1.25 EPS. The company’s revenue was up 24.5% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.35%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.86%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares of the company’s stock, valued at approximately $1,640,296. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $156,059.46. Following the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Warren Gardiner sold 2,176 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 in the last 90 days. Corporate insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

(Free Report)

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.

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

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