Nixon Peabody Trust Co. Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Nixon Peabody Trust Co. decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 100,798 shares of the financial services provider’s stock after selling 13,513 shares during the quarter. Intercontinental Exchange makes up 1.5% of Nixon Peabody Trust Co.’s portfolio, making the stock its 16th biggest position. Nixon Peabody Trust Co.’s holdings in Intercontinental Exchange were worth $17,388,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ICE. Strategic Advisors LLC boosted its stake in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 66 shares in the last quarter. Johnson Investment Counsel Inc. raised its stake in shares of Intercontinental Exchange by 2.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 71 shares in the last quarter. Quadcap Wealth Management LLC lifted its holdings in Intercontinental Exchange by 1.2% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock worth $918,000 after purchasing an additional 71 shares during the last quarter. Colonial Trust Co SC boosted its position in Intercontinental Exchange by 11.7% during the fourth quarter. Colonial Trust Co SC now owns 687 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 72 shares during the period. Finally, Sprott Inc. boosted its position in Intercontinental Exchange by 2.4% during the fourth quarter. Sprott Inc. now owns 3,085 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 73 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Trading Down 0.5%

Shares of ICE opened at $179.41 on Wednesday. The stock’s 50-day moving average price is $168.24 and its 200 day moving average price is $163.00. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $102.92 billion, a price-to-earnings ratio of 37.53, a P/E/G ratio of 2.10 and a beta of 1.12. Intercontinental Exchange, Inc. has a 12-month low of $132.91 and a 12-month high of $180.89.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. The business had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Intercontinental Exchange’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. As a group, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays lifted their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Finally, Keefe, Bruyette & Woods increased their target price 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 eleven have assigned a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $188.46.

Insider Activity

In related news, CAO James W. Namkung sold 612 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total value of $110,160.00. Following the sale, the chief accounting officer now owns 13,220 shares of the company’s stock, valued at $2,379,600. The trade was a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the transaction, the director now directly owns 4,526 shares of the company’s stock, valued at $801,599.86. This trade represents a 8.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,191 shares of company stock worth $694,978. 1.00% of the stock is currently 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.