Clearbridge Investments LLC Sells 378,194 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Clearbridge Investments LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,618,867 shares of the financial services provider’s stock after selling 378,194 shares during the quarter. Clearbridge Investments LLC owned approximately 0.46% of Intercontinental Exchange worth $390,237,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Intercontinental Exchange during the third quarter worth about $530,000. Townsquare Capital LLC raised its holdings in Intercontinental Exchange by 43.8% during the 3rd quarter. Townsquare Capital LLC now owns 10,335 shares of the financial services provider’s stock valued at $1,660,000 after acquiring an additional 3,147 shares during the period. Financial Counselors Inc. boosted its stake in Intercontinental Exchange by 188.0% in the 3rd quarter. Financial Counselors Inc. now owns 10,847 shares of the financial services provider’s stock worth $1,742,000 after purchasing an additional 7,081 shares during the period. Northwest & Ethical Investments L.P. grew its stake in Intercontinental Exchange by 6.0% during the third quarter. Northwest & Ethical Investments L.P. now owns 3,557 shares of the financial services provider’s stock valued at $572,000 after acquiring an additional 200 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of Intercontinental Exchange in the third quarter worth $372,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. JPMorgan Chase & Co. decreased 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. Keefe, Bruyette & Woods increased their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays boosted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. UBS Group increased 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Stock Down 1.0 %

Shares of NYSE ICE opened at $174.65 on Friday. The firm has a fifty day simple moving average of $167.12 and a two-hundred day simple moving average of $160.56. The firm has a market capitalization of $100.35 billion, a PE ratio of 36.54, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. 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 $124.34 and a 12 month high of $177.45.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. Equities analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Transactions at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the firm’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 value of $1,354,297.00. Following the transaction, the president now owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 over the last quarter. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Profile

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.