Intercontinental Exchange Inc. (NYSE:ICE) Shares Sold by Applied Capital LLC FL

Applied Capital LLC FL lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 2.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,337 shares of the financial services provider’s stock after selling 80 shares during the period. Applied Capital LLC FL’s holdings in Intercontinental Exchange were worth $576,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in ICE. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Royal Bank of Canada increased its holdings in shares of Intercontinental Exchange by 132.9% during the 4th 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 during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Intercontinental Exchange by 423.8% during the 4th 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 during the last quarter. GAMMA Investing LLC increased its holdings in shares of Intercontinental Exchange by 24,394.4% during the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock worth $3,906,700,000 after buying an additional 2,255,507 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Intercontinental Exchange by 50.6% during the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider’s stock worth $1,023,534,000 after buying an additional 1,993,084 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Buying and Selling

In other news, Director Sharon Bowen sold 795 shares of the firm’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the sale, the director directly owned 15,000 shares in the company, valued at approximately $2,749,500. This trade represents a 5.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the completion of the sale, the general counsel owned 48,480 shares in the company, valued at $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 228,749 shares of company stock worth $40,942,387 over the last three months. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. UBS Group increased their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, Barclays increased their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average price target of $192.58.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $180.45 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $183.99. The stock has a market capitalization of $103.51 billion, a PE ratio of 37.36, a P/E/G ratio of 1.99 and a beta of 1.11. The firm has a 50 day moving average of $178.47 and a two-hundred day moving average of $167.60.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the company posted $1.48 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.06%. 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.