Ingalls & Snyder LLC Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Ingalls & Snyder LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,843 shares of the financial services provider’s stock after selling 2,638 shares during the period. Ingalls & Snyder LLC’s holdings in Intercontinental Exchange were worth $6,831,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Janus Henderson Group PLC grew its holdings in Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after buying an additional 3,460,096 shares in the last quarter. FMR LLC boosted its position in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after acquiring an additional 2,401,630 shares during the last quarter. Swedbank AB grew its stake in Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after acquiring an additional 2,123,185 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock worth $282,148,000 after purchasing an additional 1,301,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Intercontinental Exchange by 426.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 721,474 shares of the financial services provider’s stock valued at $115,898,000 after purchasing an additional 584,400 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the sale, the senior vice president now owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,358 shares of company stock worth $5,535,650. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ICE shares. Morgan Stanley lifted their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays boosted their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Price Performance

Shares of ICE opened at $166.57 on Thursday. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $95.64 billion, a price-to-earnings ratio of 34.85, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. The company has a 50 day moving average of $153.74 and a two-hundred day moving average of $157.30. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $169.75.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) 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%. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared 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. This represents a $1.92 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 37.66%.

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.