Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Lowered by Pecaut & CO.

Pecaut & CO. trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,050 shares of the financial services provider’s stock after selling 1,200 shares during the period. Intercontinental Exchange comprises about 1.0% of Pecaut & CO.’s holdings, making the stock its 25th biggest holding. Pecaut & CO.’s holdings in Intercontinental Exchange were worth $2,839,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of ICE. Janus Henderson Group PLC lifted its holdings in shares of Intercontinental Exchange by 326.3% during the third quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after purchasing an additional 3,460,096 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Intercontinental Exchange during the fourth quarter valued at $406,728,000. FMR LLC lifted its holdings in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Swedbank AB lifted its holdings in shares of Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its holdings in shares of Intercontinental Exchange by 1,237.7% during the fourth quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock valued at $253,591,000 after purchasing an additional 1,574,386 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the subject of several analyst reports. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased 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. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $175.61 on Friday. 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 fifty-two week low of $124.34 and a fifty-two week high of $175.90. The stock’s 50-day moving average is $163.66 and its two-hundred day moving average is $160.00. The firm has a market cap of $100.90 billion, a P/E ratio of 36.74, a PEG ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Analysts predict 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. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Insider Activity

In other Intercontinental Exchange news, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the sale, the chief technology officer now owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares in the company, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 66,563 shares of company stock valued at $10,998,990. Insiders own 1.10% of the company’s stock.

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.