Kensico Capital Management Corp Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Kensico Capital Management Corp trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 814,300 shares of the financial services provider’s stock after selling 12,800 shares during the quarter. Intercontinental Exchange makes up approximately 2.8% of Kensico Capital Management Corp’s holdings, making the stock its 14th biggest position. Kensico Capital Management Corp owned 0.14% of Intercontinental Exchange worth $121,339,000 as of its most recent SEC filing.

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

Intercontinental Exchange Stock Performance

ICE stock opened at $178.73 on Friday. Intercontinental Exchange, Inc. has a twelve month low of $131.79 and a twelve month high of $179.44. The firm has a market cap of $102.52 billion, a price-to-earnings ratio of 37.39, a PEG ratio of 2.10 and a beta of 1.12. The business’s fifty day simple moving average is $166.93 and its two-hundred day simple moving average is $160.97. 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 (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Buying and Selling

In related news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the sale, the president now directly owns 160,059 shares of the company’s stock, valued at $26,627,415.24. This represents a 4.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the transaction, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. The trade was a 10.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,368 shares of company stock valued at $7,077,789 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ICE. Bank of America reduced their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. UBS Group boosted 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, Barclays increased 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. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.