Fayez Sarofim & Co Decreases Holdings in Intercontinental Exchange Inc. $ICE

Fayez Sarofim & Co trimmed its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 0.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,015,426 shares of the financial services provider’s stock after selling 11,289 shares during the quarter. Fayez Sarofim & Co’s holdings in Intercontinental Exchange were worth $339,559,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Intercontinental Exchange by 1.4% in the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after acquiring an additional 745,135 shares during the period. Wellington Management Group LLP grew its stake in shares of Intercontinental Exchange by 64.7% during the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock valued at $1,744,480,000 after purchasing an additional 4,067,922 shares during the period. Norges Bank bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at about $1,542,780,000. Capital World Investors increased its position in shares of Intercontinental Exchange by 15.2% during the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC lifted its stake in shares of Intercontinental Exchange by 6.9% in the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock worth $956,506,000 after purchasing an additional 364,227 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ICE shares. Deutsche Bank Aktiengesellschaft raised shares of Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Friday, March 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Raymond James Financial reissued a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange has a consensus rating of “Buy” and an average price target of $194.73.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares in the company, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider owned 14,266 shares of the company’s stock, valued at $2,194,396.12. The trade was a 44.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Trading Up 0.3%

Shares of NYSE:ICE opened at $159.12 on Monday. The stock has a 50 day moving average of $164.52 and a 200 day moving average of $162.11. The company has a market cap of $90.36 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter last year, the business earned $1.52 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given 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 dividend payout ratio (DPR) is presently 33.28%.

Intercontinental Exchange Profile

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.