Fred Alger Management LLC Sells 72 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Fred Alger Management LLC lessened its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,241 shares of the financial services provider’s stock after selling 72 shares during the period. Fred Alger Management LLC’s holdings in Intercontinental Exchange were worth $334,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its position in Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC increased its holdings in shares of Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock worth $11,022,000 after buying an additional 4,787 shares in the last quarter. Avantra Family Wealth Inc. bought a new position in shares of Intercontinental Exchange in the 4th quarter valued at $702,000. Dixon Mitchell Investment Counsel Inc. boosted its holdings in shares of Intercontinental Exchange by 9.2% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after acquiring an additional 61,110 shares in the last quarter. Finally, National Pension Service grew its position in Intercontinental Exchange by 19.1% during the 4th quarter. National Pension Service now owns 1,239,140 shares of the financial services provider’s stock worth $184,644,000 after acquiring an additional 198,311 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price target 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. Finally, Morgan Stanley increased their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.93.

Insider Activity

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the sale, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. The trade was a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total value of $1,141,209.66. Following 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 disclosure for this sale can be found here. Insiders sold a total of 42,368 shares of company stock valued at $7,077,789 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Up 1.3 %

ICE opened at $178.73 on Friday. Intercontinental Exchange, Inc. has a fifty-two week low of $131.79 and a fifty-two week high of $179.44. The firm has a market capitalization of $102.52 billion, a P/E ratio of 37.39, a PEG ratio of 2.10 and a beta of 1.12. The company’s 50-day moving average is $166.93 and its 200 day moving average is $160.97. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results 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. The firm had revenue of $2.47 billion for 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%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS. Research analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders 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 1.07%. 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.