Nissay Asset Management Corp Japan ADV Decreases Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Nissay Asset Management Corp Japan ADV trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 69.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 70,692 shares of the financial services provider’s stock after selling 162,461 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Intercontinental Exchange were worth $10,626,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ICE. Capital Investment Advisors LLC increased its holdings in shares of Intercontinental Exchange by 8.0% during the fourth quarter. Capital Investment Advisors LLC now owns 1,506 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 112 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Intercontinental Exchange by 4.3% during the fourth quarter. Wedmont Private Capital now owns 6,133 shares of the financial services provider’s stock valued at $876,000 after acquiring an additional 255 shares in the last quarter. Signal Advisors Wealth LLC increased its holdings in shares of Intercontinental Exchange by 3.6% during the fourth quarter. Signal Advisors Wealth LLC now owns 3,305 shares of the financial services provider’s stock valued at $492,000 after acquiring an additional 114 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of Intercontinental Exchange by 16.7% during the fourth quarter. SeaCrest Wealth Management LLC now owns 3,315 shares of the financial services provider’s stock valued at $494,000 after acquiring an additional 475 shares in the last quarter. Finally, Crestmont Private Wealth LLC increased its holdings in shares of Intercontinental Exchange by 3.3% during the fourth quarter. Crestmont Private Wealth LLC now owns 3,665 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 116 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Trading Down 1.0%

Intercontinental Exchange stock opened at $171.04 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 12 month low of $131.79 and a 12 month high of $179.44. The stock’s 50 day simple moving average is $167.04 and its two-hundred day simple moving average is $161.14. The firm has a market cap of $98.11 billion, a PE ratio of 35.78, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Barclays increased their price target on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. UBS Group increased their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Finally, Bank of America cut their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.93.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of Intercontinental Exchange stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the sale, the director now owns 21,364 shares of the company’s stock, valued at approximately $3,396,876. This trade represents a 10.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. This represents a 5.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,368 shares of company stock valued at $7,077,789. 1.00% of the stock is owned by company 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.