Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 19.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,314 shares of the financial services provider’s stock after selling 28,181 shares during the period. Cresset Asset Management LLC’s holdings in Intercontinental Exchange were worth $17,630,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ICE. Sierra Ocean LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at $25,000. Redwood Park Advisors LLC acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $33,000. Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at about $34,000. BankPlus Trust Department acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth about $40,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research note on Monday. Bank of America decreased their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and an average target price of $185.93.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the completion of the transaction, the insider now owns 17,972 shares of the company’s stock, valued at $3,001,144.28. The trade was a 27.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares in the company, valued at approximately $25,855,091.88. The trade was a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,931 shares of company stock valued at $10,492,868. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 0.9 %

NYSE ICE opened at $175.53 on Wednesday. Intercontinental Exchange, Inc. has a 52-week low of $131.60 and a 52-week high of $177.45. The firm has a 50-day moving average price of $166.63 and a 200 day moving average price of $160.74. The stock has a market capitalization of $100.84 billion, a P/E ratio of 36.72, a P/E/G ratio of 2.10 and a beta of 1.12. 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 (NYSE:ICE) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the firm earned $1.48 EPS. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is 39.75%.

Intercontinental Exchange 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.