NewEdge Wealth LLC Sells 5,471 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

NewEdge Wealth LLC trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 22.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,801 shares of the financial services provider’s stock after selling 5,471 shares during the period. NewEdge Wealth LLC’s holdings in Intercontinental Exchange were worth $2,802,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its holdings in Intercontinental Exchange by 1.2% during the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider’s stock valued at $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Intercontinental Exchange by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after purchasing an additional 169,922 shares during the last quarter. FMR LLC lifted its holdings in Intercontinental Exchange by 44.1% during the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC lifted its holdings in Intercontinental Exchange by 4.0% during the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after purchasing an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 1.4 %

Shares of NYSE:ICE opened at $173.21 on Friday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $173.54. The company has a 50 day moving average of $157.41 and a 200-day moving average of $158.76. 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 stock has a market cap of $99.52 billion, a price-to-earnings ratio of 36.24, a P/E/G ratio of 2.10 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred 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 transaction, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Glen Williams sold 750 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,268 shares of company stock worth $11,262,789. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ICE has been the subject of several analyst reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. UBS Group boosted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

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.