Pittenger & Anderson Inc. Cuts Stock Position in Intercontinental Exchange Inc. (NYSE:ICE)

Pittenger & Anderson Inc. lessened its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,007 shares of the financial services provider’s stock after selling 288 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Intercontinental Exchange were worth $1,381,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after acquiring an additional 538,670 shares in the last quarter. Geode Capital Management LLC raised its position in Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after acquiring an additional 327,637 shares in the last quarter. Royal Bank of Canada raised its position 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 acquiring an additional 5,204,309 shares in the last quarter. Norges Bank purchased a new position in Intercontinental Exchange in the fourth quarter worth $1,196,258,000. Finally, Northern Trust Corp raised its position in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock worth $1,105,953,000 after acquiring an additional 655,247 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Keefe, Bruyette & Woods raised their price target on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley raised their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. UBS Group raised their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research report on Tuesday, July 8th. Finally, Barclays increased their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $192.58.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer directly owned 13,220 shares of the company’s stock, valued at $2,379,600. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total value of $26,883,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,101,705 shares in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 228,749 shares of company stock worth $40,942,387 in the last quarter. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE:ICE opened at $180.45 on Monday. The stock’s 50-day moving average price is $178.47 and its two-hundred day moving average price is $167.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $183.99. The firm has a market cap of $103.51 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 1.97 and a beta of 1.11.

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

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.06%. Intercontinental Exchange’s payout ratio is 39.75%.

About Intercontinental Exchange

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.