D.B. Root & Company LLC Trims Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

D.B. Root & Company LLC lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 61.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,314 shares of the financial services provider’s stock after selling 2,105 shares during the period. D.B. Root & Company LLC’s holdings in Intercontinental Exchange were worth $211,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Intercontinental Exchange by 7.5% during the 1st quarter. Vanguard Group Inc. now owns 50,776,525 shares of the financial services provider’s stock valued at $6,978,218,000 after buying an additional 3,536,913 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Intercontinental Exchange by 4.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 5,280,194 shares of the financial services provider’s stock valued at $725,657,000 after acquiring an additional 218,516 shares during the period. Legal & General Group Plc boosted its stake in Intercontinental Exchange by 4.5% during the second quarter. Legal & General Group Plc now owns 4,453,286 shares of the financial services provider’s stock worth $609,609,000 after acquiring an additional 191,763 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Intercontinental Exchange by 10.4% in the second quarter. Clearbridge Investments LLC now owns 3,019,195 shares of the financial services provider’s stock worth $413,298,000 after purchasing an additional 284,664 shares during the period. Finally, Bessemer Group Inc. increased its stake in shares of Intercontinental Exchange by 0.7% during the first quarter. Bessemer Group Inc. now owns 2,795,043 shares of the financial services provider’s stock valued at $384,122,000 after purchasing an additional 19,127 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Stuart Glen Williams sold 468 shares of the stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the completion of the sale, the chief operating officer now directly owns 13,530 shares of the company’s stock, valued at $2,202,819.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the transaction, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. This trade represents a 0.00 % decrease in their position. 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. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. Bank of America lifted their price target on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Stock Up 0.2 %

Intercontinental Exchange stock opened at $156.11 on Friday. Intercontinental Exchange, Inc. has a one year low of $107.76 and a one year high of $167.99. The stock has a fifty day moving average of $161.71 and a 200 day moving average of $148.85. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $89.64 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 2.57 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 EPS for the quarter, meeting the consensus estimate of $1.55. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.46 EPS. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.09 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange’s payout ratio is presently 42.65%.

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.