Allworth Financial LP Sells 232 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Allworth Financial LP cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,283 shares of the financial services provider’s stock after selling 232 shares during the quarter. Allworth Financial LP’s holdings in Intercontinental Exchange were worth $698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Quotient Wealth Partners LLC boosted its position in shares of Intercontinental Exchange by 14.5% during the 1st quarter. Quotient Wealth Partners LLC now owns 2,395 shares of the financial services provider’s stock worth $413,000 after purchasing an additional 304 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in Intercontinental Exchange by 2.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 7,219 shares of the financial services provider’s stock worth $1,245,000 after buying an additional 189 shares during the period. Greenleaf Trust boosted its holdings in Intercontinental Exchange by 2.5% in the first quarter. Greenleaf Trust now owns 16,517 shares of the financial services provider’s stock worth $2,849,000 after acquiring an additional 399 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in Intercontinental Exchange by 0.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 442,601 shares of the financial services provider’s stock valued at $76,384,000 after acquiring an additional 1,753 shares during the period. Finally, Personal CFO Solutions LLC acquired a new stake in Intercontinental Exchange in the first quarter valued at approximately $230,000. 89.30% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Judith A. Sprieser sold 2,630 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total transaction of $418,170.00. Following the completion of the transaction, the director owned 21,364 shares in the company, valued at approximately $3,396,876. This represents a 10.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the firm’s stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the sale, the senior vice president owned 27,313 shares of the company’s stock, valued at $4,847,511.24. This trade represents a 5.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 228,749 shares of company stock valued at $40,942,387. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ICE shares. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, July 8th. Barclays lifted their price objective on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley boosted their target price 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, Bank of America dropped their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $192.58.

Intercontinental Exchange Stock Down 0.8%

ICE opened at $180.45 on Monday. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $183.99. The firm has a market capitalization of $103.51 billion, a P/E ratio of 37.36, a PEG ratio of 1.97 and a beta of 1.11. The company’s 50-day moving average is $178.47 and its 200 day moving average is $167.84. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data 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 firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the business posted $1.48 EPS. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s dividend payout ratio (DPR) 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.