Investors Research Corp Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Investors Research Corp decreased its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 3.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,100 shares of the financial services provider’s stock after selling 150 shares during the period. Investors Research Corp’s holdings in Intercontinental Exchange were worth $611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Independent Advisor Alliance boosted its position in shares of Intercontinental Exchange by 29.0% in the 4th quarter. Independent Advisor Alliance now owns 9,230 shares of the financial services provider’s stock worth $1,375,000 after purchasing an additional 2,074 shares in the last quarter. Johnson Investment Counsel Inc. boosted its position in shares of Intercontinental Exchange by 2.3% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 71 shares in the last quarter. Moran Wealth Management LLC boosted its position in shares of Intercontinental Exchange by 2.4% in the 4th quarter. Moran Wealth Management LLC now owns 5,149 shares of the financial services provider’s stock worth $767,000 after purchasing an additional 120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Intercontinental Exchange by 5.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 251,363 shares of the financial services provider’s stock worth $37,456,000 after purchasing an additional 13,599 shares in the last quarter. Finally, NBT Bank N A NY boosted its position in shares of Intercontinental Exchange by 37.5% in the 4th quarter. NBT Bank N A NY now owns 12,373 shares of the financial services provider’s stock worth $1,844,000 after purchasing an additional 3,374 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ICE. Barclays boosted their price target 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 target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. 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 research report on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $169.29 on Tuesday. 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, Inc. has a one year low of $124.34 and a one year high of $175.41. The firm has a market capitalization of $97.27 billion, a P/E ratio of 35.42, a PEG ratio of 2.10 and a beta of 1.08. The business has a fifty day moving average of $159.86 and a 200 day moving average of $159.38.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Activity

In related news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now owns 12,780 shares of the company’s stock, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,313 shares of company stock valued at $11,113,733 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Company Profile

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.