Sentry Investment Management LLC Cuts Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sentry Investment Management LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,823 shares of the financial services provider’s stock after selling 544 shares during the period. Sentry Investment Management LLC’s holdings in Intercontinental Exchange were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ICE. ST Germain D J Co. Inc. boosted its holdings in shares of Intercontinental Exchange by 18.4% during the 1st quarter. ST Germain D J Co. Inc. now owns 514 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 80 shares during the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Intercontinental Exchange by 212.9% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,258 shares of the financial services provider’s stock worth $217,000 after purchasing an additional 856 shares during the last quarter. Fragasso Financial Advisors Inc boosted its holdings in shares of Intercontinental Exchange by 5.9% during the 1st quarter. Fragasso Financial Advisors Inc now owns 1,713 shares of the financial services provider’s stock worth $296,000 after purchasing an additional 96 shares during the last quarter. NBC Securities Inc. acquired a new position in shares of Intercontinental Exchange during the 1st quarter worth approximately $88,000. Finally, Enterprise Bank & Trust Co boosted its holdings in shares of Intercontinental Exchange by 1.3% during the 1st quarter. Enterprise Bank & Trust Co now owns 17,109 shares of the financial services provider’s stock worth $2,951,000 after purchasing an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, Director Martha A. Tirinnanzi sold 397 shares of the business’s stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $177.11, for a total transaction of $70,312.67. Following the completion of the sale, the director now owns 4,526 shares of the company’s stock, valued at $801,599.86. This represents a 8.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO James W. Namkung sold 612 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer now directly owns 13,220 shares of the company’s stock, valued at approximately $2,379,600. This represents a 4.42% 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 valued at $694,978. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.5%

Shares of ICE opened at $179.41 on Wednesday. The firm has a market cap of $102.92 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company’s fifty day moving average is $168.24 and its two-hundred day moving average is $163.00. Intercontinental Exchange, Inc. has a fifty-two week low of $132.91 and a fifty-two week high of $180.89. 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 announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business earned $1.48 EPS. Intercontinental Exchange’s revenue for the quarter was up 8.0% on a year-over-year basis. Analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. Intercontinental Exchange’s payout ratio is currently 39.75%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Bank of America lowered their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays upped their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Three 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.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

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.