Shell Asset Management Co. Sells 14,719 Shares of Intercontinental Exchange Inc. $ICE

Shell Asset Management Co. cut its position in Intercontinental Exchange Inc. (NYSE:ICE) by 40.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 21,510 shares of the financial services provider’s stock after selling 14,719 shares during the period. Shell Asset Management Co.’s holdings in Intercontinental Exchange were worth $3,624,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC acquired a new stake in Intercontinental Exchange in the second quarter valued at $28,000. Westside Investment Management Inc. acquired a new stake in Intercontinental Exchange in the 2nd quarter valued at about $29,000. Private Wealth Management Group LLC grew its holdings in Intercontinental Exchange by 59.5% during the third quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares during the period. Knuff & Co LLC increased its position in Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after buying an additional 74 shares during the last quarter. Finally, Gables Capital Management Inc. increased its position in Intercontinental Exchange by 100.0% during the second quarter. Gables Capital Management Inc. now owns 250 shares of the financial services provider’s stock worth $46,000 after buying an additional 125 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ICE has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. TD Cowen reaffirmed a “buy” rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Barclays set a $193.00 price target on shares of Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and an average price target of $195.40.

Intercontinental Exchange Trading Up 1.7%

ICE stock opened at $152.31 on Friday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The company has a market capitalization of $86.49 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.59 and a beta of 1.02. The company’s 50-day simple moving average is $165.24 and its 200 day simple moving average is $165.51. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the company earned $1.52 EPS. The business’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is 36.05%.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 4,722 shares of the business’s stock in a transaction dated Thursday, February 5th. The stock was sold at an average price of $169.19, for a total value of $798,915.18. Following the completion of the transaction, the director owned 9,747 shares of the company’s stock, valued at $1,649,094.93. The trade was a 32.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 12,861 shares of the stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the sale, the president owned 165,692 shares in the company, valued at $27,339,180. The trade was a 7.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 181,570 shares of company stock valued at $28,077,452 over the last ninety days. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.