Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 34.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,700 shares of the financial services provider’s stock after selling 876 shares during the period. Sterling Capital Management LLC’s holdings in Intercontinental Exchange were worth $253,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Strategic Advisors LLC lifted its position in Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 66 shares during the period. Commons Capital LLC raised its stake in shares of Intercontinental Exchange by 1.2% in the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after purchasing an additional 69 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Intercontinental Exchange by 2.2% during the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 70 shares during the period. Clear Harbor Asset Management LLC boosted its position in Intercontinental Exchange by 3.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after buying an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. increased its holdings in Intercontinental Exchange by 2.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock worth $465,000 after buying an additional 71 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the sale, the senior vice president now owns 21,992 shares in the company, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total value of $418,170.00. Following the transaction, the director now owns 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 62,931 shares of company stock valued at $10,492,868. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

ICE opened at $158.34 on Monday. The company has a market cap of $90.97 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.10 and a beta of 1.09. The firm’s fifty day simple moving average is $167.10 and its two-hundred day simple moving average is $160.47. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. UBS Group increased their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Finally, Bank of America reduced 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. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.47.

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.