Intercontinental Exchange Inc. (NYSE:ICE) Stake Trimmed by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,677 shares of the financial services provider’s stock after selling 4,657 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Intercontinental Exchange were worth $19,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Berkeley Capital Partners LLC increased its stake in Intercontinental Exchange by 1.1% in the 1st quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 62 shares in the last quarter. GPS Wealth Strategies Group LLC increased its stake in Intercontinental Exchange by 17.2% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 63 shares in the last quarter. Values Added Financial LLC increased its stake in Intercontinental Exchange by 4.4% in the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 64 shares in the last quarter. MV Capital Management Inc. increased its stake in Intercontinental Exchange by 15.7% in the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 68 shares in the last quarter. Finally, Quadcap Wealth Management LLC increased its stake in Intercontinental Exchange by 1.2% in the 4th quarter. Quadcap Wealth Management LLC now owns 6,162 shares of the financial services provider’s stock worth $918,000 after purchasing an additional 71 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Up 0.5%

Shares of ICE stock opened at $184.52 on Friday. The stock’s 50 day simple moving average is $179.80 and its 200 day simple moving average is $169.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange Inc. has a twelve month low of $142.29 and a twelve month high of $185.30. The company has a market capitalization of $105.84 billion, a price-to-earnings ratio of 38.20, a PEG ratio of 2.01 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data 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 return on equity of 13.27% and a net margin of 22.84%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the business earned $1.48 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. As a group, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. Intercontinental Exchange’s payout ratio is 39.75%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ICE. Bank of America decreased their price objective 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. UBS Group raised their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Tuesday, July 8th. Barclays raised their price objective on Intercontinental Exchange from $198.00 to $206.00 and gave the stock an “overweight” rating in a research report on Thursday, July 10th. Morgan Stanley raised their price objective on 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, Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.42.

Insiders Place Their Bets

In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel directly owned 48,480 shares of the company’s stock, valued at $8,683,737.60. The trade was a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares in the company, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,119 shares of company stock worth $40,524,217 in the last three months. 1.00% of the stock is owned by insiders.

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.