Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 11.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 14,556 shares of the financial services provider’s stock after selling 1,957 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Intercontinental Exchange were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Commerzbank Aktiengesellschaft FI purchased a new position in shares of Intercontinental Exchange during the fourth quarter worth $256,000. Cetera Trust Company N.A acquired a new stake in Intercontinental Exchange during the 4th quarter worth about $58,000. Handelsbanken Fonder AB raised its stake in shares of Intercontinental Exchange by 6.7% during the 4th quarter. Handelsbanken Fonder AB now owns 262,637 shares of the financial services provider’s stock valued at $33,730,000 after buying an additional 16,520 shares during the last quarter. CWM LLC lifted its holdings in shares of Intercontinental Exchange by 2.5% in the 4th quarter. CWM LLC now owns 12,240 shares of the financial services provider’s stock valued at $1,572,000 after buying an additional 293 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Intercontinental Exchange by 7.0% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,925 shares of the financial services provider’s stock worth $7,054,000 after acquiring an additional 3,599 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intercontinental Exchange

In other news, insider Elizabeth Kathryn King sold 3,783 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the completion of the transaction, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Intercontinental Exchange news, insider Elizabeth Kathryn King sold 3,783 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares in the company, valued at $2,276,461.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey C. Sprecher sold 58,388 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $137.21, for a total transaction of $8,011,417.48. Following the sale, the chief executive officer now directly owns 1,179,895 shares in the company, valued at approximately $161,893,392.95. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 over the last quarter. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Stock Up 0.3 %

Shares of NYSE:ICE opened at $131.65 on Tuesday. The company has a market capitalization of $75.39 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 2.08 and a beta of 1.02. Intercontinental Exchange, Inc. has a 12-month low of $103.81 and a 12-month high of $140.43. The business has a 50-day moving average price of $136.20 and a 200 day moving average price of $124.80. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.37%. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio (DPR) is 42.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Bank of America reduced their target price on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a research report on Thursday, April 4th. JPMorgan Chase & Co. lifted their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. UBS Group raised their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Finally, Raymond James boosted their price target on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

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.