Nissay Asset Management Corp Japan ADV Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Nissay Asset Management Corp Japan ADV lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 69.7% during the fourth quarter, HoldingsChannel reports. The firm owned 70,692 shares of the financial services provider’s stock after selling 162,461 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Intercontinental Exchange were worth $10,626,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ICE. Sierra Ocean LLC purchased a new position in Intercontinental Exchange in the 4th quarter valued at $25,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $33,000. Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $34,000. BankPlus Trust Department purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $40,000. Finally, Kapitalo Investimentos Ltda purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $44,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, Director Judith A. Sprieser sold 2,630 shares of the business’s 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 completion of the transaction, the director now directly owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This represents a 5.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,368 shares of company stock valued at $7,077,789. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on ICE. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Barclays raised their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $171.04 on Thursday. The company has a market cap of $98.11 billion, a P/E ratio of 35.78, a P/E/G ratio of 2.10 and a beta of 1.12. 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 stock has a 50-day moving average of $167.04 and a two-hundred day moving average of $161.14. Intercontinental Exchange, Inc. has a 1-year low of $131.79 and a 1-year high of $179.44.

Intercontinental Exchange (NYSE:ICE) last released its earnings results 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 company had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Intercontinental Exchange’s revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.48 EPS. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is presently 39.75%.

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.