Envestnet Portfolio Solutions Inc. Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,886 shares of the financial services provider’s stock after selling 4,215 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Intercontinental Exchange were worth $10,265,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Strategic Advisors LLC boosted its position in shares of Intercontinental Exchange by 5.1% during the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 66 shares in the last quarter. Commons Capital LLC boosted its position in shares of Intercontinental Exchange by 1.2% during the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after purchasing an additional 69 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of 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 purchasing an additional 70 shares in the last quarter. Clear Harbor Asset Management LLC boosted its position in shares of Intercontinental Exchange by 3.7% during 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 purchasing an additional 70 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Intercontinental Exchange by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock valued at $465,000 after purchasing an additional 71 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research 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 boosted their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $178.80.

Insider Transactions at Intercontinental Exchange

In other news, 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 value of $965,757.88. Following the sale, the president now directly owns 164,041 shares in the company, valued at approximately $27,183,234.11. This represents a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,313 shares of company stock worth $11,113,733. 1.10% of the stock is currently owned by company insiders.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $171.28 on Monday. The firm has a market capitalization of $98.41 billion, a price-to-earnings ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $175.41. The business has a 50 day simple moving average of $161.47 and a 200-day simple moving average of $159.63. 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 posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.12%. Intercontinental Exchange’s payout ratio 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.