Sumitomo Mitsui Trust Group Inc. Sells 148 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Sumitomo Mitsui Trust Group Inc. reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 0.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,183,688 shares of the financial services provider’s stock after selling 148 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Intercontinental Exchange were worth $376,686,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ICE. Norges Bank bought a new position in Intercontinental Exchange in the fourth quarter worth about $1,196,258,000. Royal Bank of Canada raised its stake in Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after buying an additional 5,204,309 shares in the last quarter. Kovitz Investment Group Partners LLC raised its stake in Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after buying an additional 3,678,384 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $406,728,000. Finally, GAMMA Investing LLC increased its stake in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after purchasing an additional 2,255,507 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ICE. Barclays raised their target price on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods raised their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley raised their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, Bank of America decreased their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $188.46.

Insider Buying and Selling

In related news, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 21,364 shares in the company, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 552 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total transaction of $96,335.04. Following the completion of the sale, the insider now owns 15,658 shares in the company, valued at $2,732,634.16. This represents a 3.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Trading Up 0.5%

NYSE:ICE opened at $181.74 on Friday. The company’s 50 day moving average price is $174.95 and its 200-day moving average price is $165.57. Intercontinental Exchange Inc. has a 52 week low of $136.21 and a 52 week high of $182.61. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. The stock has a market cap of $104.25 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 1.95 and a beta of 1.12.

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, beating analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share. The business’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, 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 business also recently announced 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 annualized dividend and a yield of 1.06%. Intercontinental Exchange’s dividend payout ratio is currently 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.