Nuveen Asset Management LLC Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Nuveen Asset Management LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 9.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,740,442 shares of the financial services provider’s stock after selling 377,570 shares during the period. Nuveen Asset Management LLC owned approximately 0.65% of Intercontinental Exchange worth $557,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Strategic Advisors LLC boosted its stake in shares of Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after buying an additional 66 shares during the last quarter. Commons Capital LLC lifted its stake in Intercontinental Exchange by 1.2% in the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 69 shares during the last quarter. Brooklyn Investment Group lifted its stake in Intercontinental Exchange by 2.2% in the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 70 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in Intercontinental Exchange by 3.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. lifted its stake in Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America dropped 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. Morgan Stanley upped their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.93.

Intercontinental Exchange Trading Down 1.0%

Intercontinental Exchange stock opened at $171.04 on Thursday. The stock has a market cap of $98.11 billion, a P/E ratio of 35.78, a PEG ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44. The firm’s fifty day moving average price is $167.04 and its 200-day moving average price is $161.14. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly 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. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.12%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction 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. This represents a 27.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction 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 transaction, the director now directly owns 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,368 shares of company stock valued at $7,077,789. 1.00% of the stock is currently owned by company 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.