Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 32.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,853 shares of the financial services provider’s stock after selling 2,848 shares during the quarter. Jackson Square Capital LLC’s holdings in Intercontinental Exchange were worth $1,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sierra Ocean LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $25,000. REAP Financial Group LLC grew its holdings in shares of Intercontinental Exchange by 116.7% during the 4th quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 91 shares during the period. Menard Financial Group LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $29,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $33,000. Finally, Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the 4th quarter worth $34,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ICE. Barclays lifted their target price on Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods upped their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Morgan Stanley increased their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Finally, Bank of America dropped their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $188.46.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $178.30 on Friday. Intercontinental Exchange, Inc. has a 12 month low of $133.97 and a 12 month high of $180.89. The business has a 50-day moving average of $170.32 and a two-hundred day moving average of $164.04. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $102.28 billion, a PE ratio of 37.30, a P/E/G ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results 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 the consensus estimate of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The company’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, research analysts forecast 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. Stockholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.08%. Intercontinental Exchange’s payout ratio is 39.75%.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,101,705 shares of the company’s stock, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel now directly owns 48,480 shares of the company’s stock, valued at approximately $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 227,954 shares of company stock worth $40,796,663. 1.00% of the stock is currently 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.