US Bancorp DE Cuts Holdings in Intercontinental Exchange Inc. $ICE

US Bancorp DE lowered its position in Intercontinental Exchange Inc. (NYSE:ICEFree Report) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 121,652 shares of the financial services provider’s stock after selling 4,359 shares during the period. US Bancorp DE’s holdings in Intercontinental Exchange were worth $19,703,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. ICONIQ Capital LLC increased its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider’s stock valued at $481,000 after purchasing an additional 56 shares in the last quarter. Mechanics Financial Corp boosted its position in Intercontinental Exchange by 1.0% during the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider’s stock worth $994,000 after purchasing an additional 60 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in Intercontinental Exchange by 1.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 63 shares in the last quarter. Evergreen Capital Management LLC grew its holdings in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $681,000 after purchasing an additional 63 shares during the period. Finally, Sather Financial Group Inc grew its holdings in Intercontinental Exchange by 4.7% in the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 64 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

More Intercontinental Exchange News

Here are the key news stories impacting Intercontinental Exchange this week:

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $155.04 on Friday. The firm has a 50-day simple moving average of $160.21 and a 200-day simple moving average of $159.99. The stock has a market capitalization of $87.82 billion, a price-to-earnings ratio of 26.87, a price-to-earnings-growth ratio of 1.64 and a beta of 0.96. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICEGet Free Report) last posted its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $2.88 billion. During the same period in the previous year, the business posted $1.72 earnings per share. Intercontinental Exchange’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that Intercontinental Exchange Inc. will post 8.1 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 36.05%.

Analysts Set New Price Targets

ICE has been the subject of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research note on Wednesday, April 8th. They set an “outperform” rating and a $190.00 target price for the company. Raymond James Financial reissued a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Weiss Ratings cut shares of Intercontinental Exchange from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $183.00 to $187.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $194.10.

View Our Latest Stock Analysis on ICE

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 12,861 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the completion of the sale, the president directly owned 165,692 shares in the company, valued at $27,339,180. This represents a 7.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 348,418 shares of company stock worth $54,196,631. 0.84% of the stock is owned by company insiders.

About Intercontinental Exchange

(Free Report)

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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