Central Bank & Trust Co. Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Central Bank & Trust Co. cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,565 shares of the financial services provider’s stock after selling 308 shares during the quarter. Central Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $733,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in ICE. Assenagon Asset Management S.A. grew its stake in Intercontinental Exchange by 819.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 137,074 shares of the financial services provider’s stock valued at $18,764,000 after purchasing an additional 122,169 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Intercontinental Exchange by 7.0% during the first quarter. Russell Investments Group Ltd. now owns 317,544 shares of the financial services provider’s stock worth $43,617,000 after purchasing an additional 20,802 shares during the period. UniSuper Management Pty Ltd boosted its position in Intercontinental Exchange by 200.2% in the first quarter. UniSuper Management Pty Ltd now owns 14,459 shares of the financial services provider’s stock valued at $1,987,000 after buying an additional 9,642 shares during the last quarter. BDF Gestion acquired a new position in Intercontinental Exchange in the 2nd quarter worth approximately $2,849,000. Finally, Sei Investments Co. raised its position in Intercontinental Exchange by 3.6% during the 1st quarter. Sei Investments Co. now owns 348,870 shares of the financial services provider’s stock worth $47,945,000 after buying an additional 12,237 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Down 0.1 %

Shares of ICE opened at $154.49 on Tuesday. The stock has a 50 day moving average price of $161.86 and a 200 day moving average price of $148.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $88.70 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.33 and a beta of 1.08. Intercontinental Exchange, Inc. has a one year low of $107.40 and a one year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period last year, the firm posted $1.46 earnings per share. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.17%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 42.65%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ICE shares. Bank of America increased their price objective on shares of Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. TD Cowen started coverage on Intercontinental Exchange in a research report on Thursday, September 26th. They set a “buy” rating and a $182.00 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Friday. StockNews.com lowered Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $168.00 price target on shares of Intercontinental Exchange in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average price target of $173.93.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now directly owns 16,665 shares in the company, valued at $2,666,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the completion of the sale, the chief accounting officer now owns 16,665 shares of the company’s stock, valued at $2,666,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 602 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total transaction of $98,011.62. Following the sale, the insider now owns 14,034 shares of the company’s stock, valued at $2,284,875.54. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,489 shares of company stock worth $1,202,259. 1.10% of the stock is owned by corporate insiders.

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.