Van ECK Associates Corp Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Van ECK Associates Corp trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,704 shares of the financial services provider’s stock after selling 1,245 shares during the quarter. Van ECK Associates Corp’s holdings in Intercontinental Exchange were worth $19,092,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New Millennium Group LLC purchased a new position in Intercontinental Exchange during the second quarter worth about $25,000. International Assets Investment Management LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $25,000. Fairscale Capital LLC purchased a new position in shares of Intercontinental Exchange in the 2nd quarter worth about $25,000. Wolff Wiese Magana LLC boosted its holdings in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 147 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth about $26,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Warren Gardiner sold 750 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the sale, the chief financial officer now owns 16,576 shares in the company, valued at $2,675,863.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, COO Stuart Glen Williams sold 468 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $162.81, for a total value of $76,195.08. Following the transaction, the chief operating officer now directly owns 13,530 shares in the company, valued at $2,202,819.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Warren Gardiner sold 750 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $161.43, for a total value of $121,072.50. Following the completion of the transaction, the chief financial officer now directly owns 16,576 shares in the company, valued at approximately $2,675,863.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last 90 days. Insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com cut Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Monday, October 21st. Morgan Stanley upped their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Piper Sandler upped their price objective on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. The Goldman Sachs Group increased their target price on Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. Finally, Bank of America increased their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE:ICE opened at $154.49 on Tuesday. Intercontinental Exchange, Inc. has a 52-week low of $107.40 and a 52-week high of $167.99. The firm has a market capitalization of $88.70 billion, a P/E ratio of 36.61, a P/E/G ratio of 2.35 and a beta of 1.08. The stock has a 50 day moving average price of $161.86 and a 200-day moving average price of $148.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.99 and a current ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the company earned $1.46 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Intercontinental Exchange, Inc. will post 6.13 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Intercontinental Exchange’s payout ratio is currently 42.65%.

Intercontinental Exchange 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.