Rafferty Asset Management LLC Sells 104,712 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Rafferty Asset Management LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 37.4% in the 2nd quarter, Holdings Channel reports. The firm owned 175,419 shares of the financial services provider’s stock after selling 104,712 shares during the quarter. Rafferty Asset Management LLC’s holdings in Intercontinental Exchange were worth $16,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in Intercontinental Exchange by 2.5% in the first quarter. Vanguard Group Inc. now owns 44,599,297 shares of the financial services provider’s stock worth $5,892,459,000 after purchasing an additional 1,100,806 shares during the period. FMR LLC lifted its position in Intercontinental Exchange by 4.2% in the second quarter. FMR LLC now owns 14,469,451 shares of the financial services provider’s stock worth $1,360,706,000 after purchasing an additional 584,476 shares during the period. Mawer Investment Management Ltd. lifted its position in Intercontinental Exchange by 0.9% in the first quarter. Mawer Investment Management Ltd. now owns 7,089,422 shares of the financial services provider’s stock worth $936,654,000 after purchasing an additional 66,301 shares during the period. Invesco Ltd. lifted its position in Intercontinental Exchange by 30.1% in the first quarter. Invesco Ltd. now owns 6,986,826 shares of the financial services provider’s stock worth $923,099,000 after purchasing an additional 1,618,497 shares during the period. Finally, Parnassus Investments LLC lifted its position in Intercontinental Exchange by 22.0% in the second quarter. Parnassus Investments LLC now owns 4,762,707 shares of the financial services provider’s stock worth $447,885,000 after purchasing an additional 858,630 shares during the period. 87.00% of the stock is owned by institutional investors.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE traded up $0.91 during midday trading on Thursday, reaching $106.94. The company’s stock had a trading volume of 1,346,964 shares, compared to its average volume of 2,644,639. The business’s fifty day simple moving average is $95.72 and its 200-day simple moving average is $98.45. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $59.73 billion, a P/E ratio of 23.71, a P/E/G ratio of 2.82 and a beta of 0.89. Intercontinental Exchange, Inc. has a fifty-two week low of $88.60 and a fifty-two week high of $138.46.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be given a $0.38 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.42%. Intercontinental Exchange’s payout ratio is 33.70%.

Insider Buying and Selling

In related news, General Counsel Andrew J. Surdykowski sold 2,500 shares of Intercontinental Exchange stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.00, for a total value of $267,500.00. Following the completion of the sale, the general counsel now directly owns 42,007 shares in the company, valued at $4,494,749. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,500 shares of Intercontinental Exchange stock in a transaction dated Friday, August 26th. The stock was sold at an average price of $107.00, for a total value of $267,500.00. Following the completion of the sale, the general counsel now directly owns 42,007 shares in the company, valued at $4,494,749. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeffrey C. Sprecher sold 87,377 shares of Intercontinental Exchange stock in a transaction dated Wednesday, September 21st. The stock was sold at an average price of $94.95, for a total value of $8,296,446.15. Following the completion of the sale, the chief executive officer now owns 1,255,207 shares of the company’s stock, valued at $119,181,904.65. The disclosure for this sale can be found here. Insiders sold a total of 92,377 shares of company stock worth $8,826,446 over the last three months. 1.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on ICE shares. Deutsche Bank Aktiengesellschaft increased their price objective on Intercontinental Exchange from $123.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, November 15th. Raymond James dropped their price objective on Intercontinental Exchange from $129.00 to $123.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 6th. Bank of America upgraded Intercontinental Exchange from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $116.00 to $132.00 in a research note on Thursday, November 17th. Morgan Stanley dropped their price objective on Intercontinental Exchange from $118.00 to $116.00 and set an “equal weight” rating for the company in a research note on Monday, November 7th. Finally, Atlantic Securities increased their price objective on Intercontinental Exchange from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, August 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $126.17.

About Intercontinental Exchange

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

See Also

Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange, Inc. (NYSE:ICEGet Rating).

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

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