Riverpark Capital Management LLC trimmed its stake in shares of Intercontinental Exchange Inc (NYSE:ICE) by 15.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 214,254 shares of the financial services provider’s stock after selling 37,691 shares during the quarter. Intercontinental Exchange comprises 2.2% of Riverpark Capital Management LLC’s investment portfolio, making the stock its 27th biggest holding. Riverpark Capital Management LLC’s holdings in Intercontinental Exchange were worth $15,118,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of ICE. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $109,000. Valeo Financial Advisors LLC lifted its holdings in shares of Intercontinental Exchange by 257.6% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,627 shares of the financial services provider’s stock valued at $115,000 after buying an additional 1,172 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $122,000. Cerebellum GP LLC acquired a new stake in shares of Intercontinental Exchange in the 4th quarter valued at approximately $127,000. Finally, Americafirst Capital Management LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $145,000. 90.74% of the stock is owned by institutional investors.
Intercontinental Exchange Inc (ICE) opened at $75.73 on Monday. Intercontinental Exchange Inc has a one year low of $57.91 and a one year high of $76.14. The firm has a market capitalization of $44,097.14, a P/E ratio of 25.76, a P/E/G ratio of 2.66 and a beta of 0.65. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Thursday, September 13th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, September 12th. Intercontinental Exchange’s payout ratio is currently 18.87%.
Several research firms have recently commented on ICE. Zacks Investment Research raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Wednesday, January 3rd. JPMorgan Chase & Co. raised Intercontinental Exchange from a “neutral” rating to an “overweight” rating and raised their price target for the company from $76.00 to $83.00 in a report on Tuesday, February 20th. Berenberg Bank began coverage on Intercontinental Exchange in a report on Thursday, January 25th. They issued a “buy” rating and a $90.00 price target for the company. Argus raised their price target on Intercontinental Exchange from $72.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Bank of America reduced their price target on Intercontinental Exchange from $83.00 to $82.00 and set a “buy” rating for the company in a report on Thursday, February 8th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and an average price target of $76.62.
In related news, Vice Chairman Charles A. Vice sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $72.55, for a total value of $544,125.00. Following the completion of the transaction, the insider now directly owns 377,471 shares of the company’s stock, valued at approximately $27,385,521.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 132,245 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $73.34, for a total value of $9,698,848.30. Following the completion of the transaction, the chief executive officer now directly owns 1,454,661 shares of the company’s stock, valued at $106,684,837.74. The disclosure for this sale can be found here. Insiders sold a total of 186,201 shares of company stock valued at $13,690,343 over the last ninety days. 1.50% of the stock is currently owned by company insiders.
Intercontinental Exchange Company Profile
Intercontinental Exchange Inc, formerly IntercontinentalExchange Group, Inc, is a network of regulated exchanges and clearing houses for financial and commodity markets. The Company delivers transparent and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures, Liffe and Euronext.
Want to see what other hedge funds are holding ICE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intercontinental Exchange Inc (NYSE:ICE).
Receive News & Ratings for Intercontinental Exchange Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intercontinental Exchange and related companies with MarketBeat.com's FREE daily email newsletter.