PNC Financial Services Group Inc. Reduces Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

PNC Financial Services Group Inc. cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 180,014 shares of the financial services provider’s stock after selling 3,738 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Intercontinental Exchange were worth $26,824,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ICE. Capital Performance Advisors LLP acquired a new stake in Intercontinental Exchange in the 3rd quarter worth approximately $29,000. CWA Asset Management Group LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth $859,000. Verdence Capital Advisors LLC acquired a new stake in shares of Intercontinental Exchange during the third quarter worth $247,000. Assetmark Inc. lifted its stake in shares of Intercontinental Exchange by 26.7% during the third quarter. Assetmark Inc. now owns 16,481 shares of the financial services provider’s stock worth $2,648,000 after buying an additional 3,469 shares during the period. Finally, Essex Savings Bank purchased a new stake in shares of Intercontinental Exchange during the third quarter valued at $230,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total value of $114,742.50. Following the sale, the chief operating officer now directly owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. The trade was a 5.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total transaction of $965,757.88. Following the transaction, the president now directly owns 164,041 shares of the company’s stock, valued at $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,313 shares of company stock worth $11,113,733 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. cut their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barclays increased their price target on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Trading Down 0.6 %

ICE opened at $169.29 on Tuesday. The firm has a market capitalization of $97.27 billion, a price-to-earnings ratio of 35.42, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The company’s 50 day simple moving average is $159.86 and its two-hundred day simple moving average is $159.38. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently declared 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. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is 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.