Benson Investment Management Company Inc. Sells 1,075 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Benson Investment Management Company Inc. decreased its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,645 shares of the financial services provider’s stock after selling 1,075 shares during the period. Intercontinental Exchange accounts for approximately 2.5% of Benson Investment Management Company Inc.’s holdings, making the stock its 11th biggest holding. Benson Investment Management Company Inc.’s holdings in Intercontinental Exchange were worth $5,804,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $1,196,258,000. Royal Bank of Canada raised its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC raised its position in Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider’s stock worth $677,465,000 after purchasing an additional 3,678,384 shares during the period. Raymond James Financial Inc. bought a new stake in Intercontinental Exchange in the fourth quarter worth about $406,728,000. Finally, GAMMA Investing LLC boosted its position in shares of Intercontinental Exchange by 24,394.4% during the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider’s stock valued at $3,906,700,000 after buying an additional 2,255,507 shares during the period. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 0.5%

Shares of Intercontinental Exchange stock opened at $179.41 on Wednesday. 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 $102.92 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 2.10 and a beta of 1.12. The firm’s 50-day moving average is $168.24 and its two-hundred day moving average is $163.00. Intercontinental Exchange, Inc. has a 1 year low of $132.91 and a 1 year high of $180.89.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. The firm had revenue of $2.47 billion during 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 revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.48 EPS. As a group, research analysts expect 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 Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.07%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ICE shares. Barclays increased their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Bank of America reduced their target price 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. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, UBS Group raised their price target 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus target price of $188.46.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $159.00, for a total transaction of $418,170.00. Following the sale, the director now owns 21,364 shares of the company’s stock, valued at $3,396,876. This trade represents a 10.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher Scott Edmonds sold 552 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $174.52, for a total transaction of $96,335.04. Following the completion of the transaction, the insider now owns 15,658 shares of the company’s stock, valued at $2,732,634.16. This represents a 3.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,191 shares of company stock valued at $694,978. 1.00% of the stock is currently owned by corporate insiders.

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.