Prudential Financial Inc. Sells 23,404 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Prudential Financial Inc. lowered its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 486,312 shares of the financial services provider’s stock after selling 23,404 shares during the quarter. Prudential Financial Inc. owned approximately 0.08% of Intercontinental Exchange worth $72,465,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth $31,000. Lee Danner & Bass Inc. bought a new position in Intercontinental Exchange in the 4th quarter worth $34,000. BankPlus Trust Department purchased a new position in Intercontinental Exchange during the fourth quarter valued at $40,000. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $45,000. Institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group raised their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Barclays upped their target price 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. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.80.

Insider Activity

In related news, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93 % 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, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the transaction, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock valued at $10,998,990 in the last ninety days. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.5 %

Shares of ICE opened at $175.27 on Tuesday. The stock has a market capitalization of $100.70 billion, a PE ratio of 36.67, a P/E/G ratio of 2.10 and a beta of 1.08. The company’s fifty day moving average is $164.92 and its 200 day moving average is $160.16. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $176.16.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results 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%. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 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.