Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Trimmed by Flputnam Investment Management Co.

Flputnam Investment Management Co. trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 19.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,971 shares of the financial services provider’s stock after selling 10,337 shares during the quarter. Flputnam Investment Management Co.’s holdings in Intercontinental Exchange were worth $5,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after purchasing an additional 8,348,126 shares during the last quarter. Norges Bank purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $579,605,000. T. Rowe Price Investment Management Inc. increased its position in shares of Intercontinental Exchange by 45.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,114,267 shares of the financial services provider’s stock worth $1,755,753,000 after acquiring an additional 5,354,161 shares in the last quarter. Morgan Stanley increased its position in shares of Intercontinental Exchange by 18.9% in the fourth quarter. Morgan Stanley now owns 25,406,629 shares of the financial services provider’s stock worth $2,606,466,000 after acquiring an additional 4,044,744 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Intercontinental Exchange by 59.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,275,418 shares of the financial services provider’s stock worth $564,869,000 after acquiring an additional 1,589,999 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Down 0.2 %

NYSE ICE traded down $0.25 during trading hours on Tuesday, reaching $130.29. 160,788 shares of the company’s stock were exchanged, compared to its average volume of 2,370,492. The company’s 50-day moving average is $136.30 and its two-hundred day moving average is $124.03. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $74.61 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 2.11 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly 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 analysts’ expectations of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Insider Activity

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the acquisition, the insider now directly owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares of the company’s stock, valued at $6,504,420.15. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Elizabeth Kathryn King sold 3,783 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $499,469.49. Following the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is owned by insiders.

Analysts Set New Price Targets

ICE has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Citigroup lifted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, April 4th. Raymond James lifted their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research note on Friday, January 5th. JPMorgan Chase & Co. lifted their target price on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, Morgan Stanley boosted their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has an average rating of “Moderate Buy” and a consensus price target of $147.08.

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.