Balyasny Asset Management L.P. Has $33.26 Million Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Balyasny Asset Management L.P. cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 61.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 223,176 shares of the financial services provider’s stock after selling 359,165 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Intercontinental Exchange were worth $33,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of ICE. Sierra Ocean LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Redwood Park Advisors LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $33,000. Lee Danner & Bass Inc. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the 4th quarter valued at about $40,000. Finally, Kapitalo Investimentos Ltda acquired a new position in Intercontinental Exchange in the fourth quarter valued at about $44,000. Institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ICE. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays raised their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Finally, 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. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average target price of $185.93.

Intercontinental Exchange Stock Up 0.3 %

NYSE:ICE opened at $174.05 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 12-month low of $130.39 and a 12-month high of $177.45. The stock’s fifty day simple moving average is $166.54 and its 200-day simple moving average is $160.63. The firm has a market capitalization of $99.99 billion, a P/E ratio of 36.41, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the business posted $1.48 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. Intercontinental Exchange’s payout ratio is 39.75%.

Insiders Place Their Bets

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the transaction, the insider now owns 17,972 shares of the company’s stock, valued at approximately $3,001,144.28. The trade was a 27.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the sale, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,931 shares of company stock worth $10,492,868 over the last ninety days. 1.00% of the stock is currently owned by corporate insiders.

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.