Wells Fargo & Company MN Has $428.77 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Wells Fargo & Company MN cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,877,432 shares of the financial services provider’s stock after selling 51,082 shares during the quarter. Wells Fargo & Company MN owned about 0.50% of Intercontinental Exchange worth $428,766,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at $25,000. Lee Danner & Bass Inc. bought a new position in Intercontinental Exchange in the 4th quarter valued at about $34,000. BankPlus Trust Department acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $40,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth approximately $45,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $51,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now owns 66,548 shares in the company, valued at approximately $9,821,819.32. This trade represents a 7.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 7,900 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 66,563 shares of company stock worth $10,998,990. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays increased their price objective 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 boosted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.47.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $156.89 on Friday. The firm has a market capitalization of $90.13 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. 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 company’s 50 day moving average price is $168.49 and its two-hundred day moving average price is $160.80.

Intercontinental Exchange (NYSE:ICE) last posted its 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, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business 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 dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is presently 40.17%.

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.