Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 70.9% during the 4th quarter, Holdings Channel reports. The fund owned 2,442,913 shares of the financial services provider’s stock after selling 5,951,946 shares during the quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Intercontinental Exchange were worth $364,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ICE shares. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barclays upped their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. UBS Group raised their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley upped their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $185.93.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $176.44 on Thursday. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $178.91. The stock’s 50-day moving average is $166.69 and its two-hundred day moving average is $160.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market cap of $101.37 billion, a P/E ratio of 36.91, a PEG ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.48 earnings per share. Analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business 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 annualized dividend and a yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $166.36, for a total transaction of $1,314,244.00. Following the completion of the transaction, the president now owns 160,059 shares of the company’s stock, valued at approximately $26,627,415.24. The trade was a 4.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Judith A. Sprieser sold 2,630 shares of the firm’s 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 in the company, valued at $3,396,876. This trade represents a 10.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,948 shares of company stock worth $8,839,042. 1.00% of the stock is owned by corporate insiders.

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.