OLD National Bancorp IN Sells 376 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

OLD National Bancorp IN trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 10.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,159 shares of the financial services provider’s stock after selling 376 shares during the quarter. OLD National Bancorp IN’s holdings in Intercontinental Exchange were worth $545,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Sierra Ocean LLC bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. REAP Financial Group LLC grew its position in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the fourth quarter valued at about $29,000. Redwood Park Advisors LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth about $33,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $34,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO James W. Namkung sold 612 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total transaction of $110,160.00. Following the completion of the sale, the chief accounting officer now owns 13,220 shares of the company’s stock, valued at $2,379,600. This trade represents a 4.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Martha A. Tirinnanzi sold 397 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the transaction, the director now owns 4,526 shares in the company, valued at $801,599.86. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,354 shares of company stock valued at $40,512,695 in the last ninety days. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays raised their price objective on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Morgan Stanley boosted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Finally, Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $175.99 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a fifty-two week low of $132.93 and a fifty-two week high of $180.89. The company has a 50 day simple moving average of $168.71 and a two-hundred day simple moving average of $163.61. The company has a market capitalization of $100.95 billion, a PE ratio of 36.82, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Intercontinental Exchange’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 earnings per share. Research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given 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 presently 39.75%.

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.