Franklin Resources Inc. Has $743.97 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Franklin Resources Inc. trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,992,776 shares of the financial services provider’s stock after selling 272,244 shares during the quarter. Franklin Resources Inc. owned 0.87% of Intercontinental Exchange worth $743,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Strategic Advisors LLC increased its position in Intercontinental Exchange by 5.1% in the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after purchasing an additional 66 shares during the last quarter. Commons Capital LLC increased its holdings in Intercontinental Exchange by 1.2% in the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after buying an additional 69 shares during the last quarter. Brooklyn Investment Group raised its position in Intercontinental Exchange by 2.2% during the fourth quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 70 shares in the last quarter. Clear Harbor Asset Management LLC lifted its stake in Intercontinental Exchange by 3.7% in the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 70 shares during the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in Intercontinental Exchange by 2.3% in the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock worth $465,000 after acquiring an additional 71 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now owns 21,992 shares of the company’s stock, valued at $3,661,008.24. This represents a 32.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange 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 sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. The trade was a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 66,563 shares of company stock valued at $10,998,990. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Down 1.3 %

ICE stock opened at $172.51 on Tuesday. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a market cap of $99.12 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The business’s 50-day simple moving average is $167.59 and its 200 day simple moving average is $160.65.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data 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%. On average, 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 Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ICE shares. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. UBS Group boosted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.