MainStreet Investment Advisors LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

MainStreet Investment Advisors LLC lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,934 shares of the financial services provider’s stock after selling 589 shares during the quarter. MainStreet Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $3,566,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intercontinental Exchange by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock valued at $1,765,317,000 after buying an additional 327,637 shares during the period. Norges Bank acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $1,196,258,000. Northern Trust Corp lifted its holdings in shares of Intercontinental Exchange by 9.7% in the 4th quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after buying an additional 655,247 shares during the period. Finally, Independent Franchise Partners LLP lifted its holdings in shares of Intercontinental Exchange by 20.8% in the 4th quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider’s stock valued at $918,026,000 after buying an additional 1,062,904 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,368 shares of company stock valued at $7,077,789 over the last quarter. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock opened at $172.86 on Wednesday. The business has a 50 day simple moving average of $167.03 and a two-hundred day simple moving average of $161.07. Intercontinental Exchange, Inc. has a 12 month low of $131.79 and a 12 month high of $179.44. The stock has a market capitalization of $99.16 billion, a P/E ratio of 36.16, a PEG ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the firm earned $1.48 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.11%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. UBS Group boosted their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Bank of America decreased their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. JPMorgan Chase & Co. decreased their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Finally, Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.93.

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.