Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 8,467 shares of the financial services provider’s stock after selling 669 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Intercontinental Exchange were worth $1,262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp increased its stake in shares of Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares in the last quarter. Geode Capital Management LLC increased its stake in Intercontinental Exchange by 1.5% during the 3rd 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 in the last quarter. FMR LLC increased its stake in Intercontinental Exchange by 44.1% during the 3rd 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 in the last quarter. Parnassus Investments LLC increased its stake in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock worth $1,259,213,000 after buying an additional 299,037 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after buying an additional 390,332 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ICE. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. UBS Group boosted 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. Finally, JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. This represents a 4.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the transaction, the president now directly owns 164,041 shares of the company’s stock, valued at approximately $27,183,234.11. This trade represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,358 shares of company stock valued at $5,535,650. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $166.57 on Thursday. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $95.64 billion, a PE ratio of 34.85, a P/E/G ratio of 3.21 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.75. The business’s fifty day moving average price is $153.74 and its 200 day moving average price is $157.30.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (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%. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.63 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. Intercontinental Exchange’s dividend payout ratio is currently 37.66%.

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.