Two Sigma Investments LP Sells 458,097 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Two Sigma Investments LP cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 31.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 992,344 shares of the financial services provider’s stock after selling 458,097 shares during the period. Two Sigma Investments LP’s holdings in Intercontinental Exchange were worth $147,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Norges Bank acquired a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $1,196,258,000. Royal Bank of Canada increased its stake in Intercontinental Exchange by 132.9% during 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 in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Intercontinental Exchange by 423.8% during 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 in the last quarter. Raymond James Financial Inc. bought a new position in Intercontinental Exchange in the fourth quarter valued at approximately $406,728,000. Finally, Swedbank AB lifted its stake in Intercontinental Exchange by 2,293.3% in the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after buying an additional 2,123,185 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

ICE opened at $176.10 on Monday. The business’s 50-day simple moving average is $167.31 and its 200 day simple moving average is $161.26. Intercontinental Exchange, Inc. has a 52-week low of $131.79 and a 52-week high of $179.44. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market capitalization of $101.01 billion, a PE ratio of 36.84, a PEG ratio of 2.10 and a beta of 1.12.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.48 EPS. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared 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 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 39.75%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. Finally, UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.93.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the transaction, the insider now owns 17,972 shares of the company’s stock, valued at $3,001,144.28. The trade was a 27.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $166.36, for a total value of $1,314,244.00. Following the completion of the sale, the president now owns 160,059 shares in the company, valued at $26,627,415.24. This represents a 4.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,368 shares of company stock worth $7,077,789 over the last quarter. 1.00% of the stock is currently owned by 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.