Provident Investment Management Inc. Has $46.72 Million Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Provident Investment Management Inc. lowered its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 313,533 shares of the financial services provider's stock after selling 6,008 shares during the period. Intercontinental Exchange makes up approximately 4.5% of Provident Investment Management Inc.'s portfolio, making the stock its 9th largest position. Provident Investment Management Inc. owned about 0.05% of Intercontinental Exchange worth $46,720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider's stock worth $5,647,000 after buying an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Intercontinental Exchange by 6.9% during the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock worth $11,022,000 after purchasing an additional 4,787 shares during the last quarter. M&T Bank Corp grew its holdings in Intercontinental Exchange by 33.2% in the third quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider's stock valued at $7,500,000 after purchasing an additional 11,648 shares during the period. Avantra Family Wealth Inc. acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth $702,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after purchasing an additional 61,110 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ICE shares. Barclays increased their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Bank of America reduced their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, April 2nd. UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, StockNews.com raised shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $182.47.

Intercontinental Exchange Trading Down 1.5 %

Shares of ICE traded down $2.27 during mid-day trading on Tuesday, reaching $152.38. The company's stock had a trading volume of 3,363,768 shares, compared to its average volume of 2,868,622. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company's fifty day moving average price is $168.37 and its two-hundred day moving average price is $160.75. The stock has a market cap of $87.54 billion, a PE ratio of 31.83, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts' consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now owns 12,922 shares of the company's stock, valued at $1,908,967.06. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total value of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares in the company, valued at $25,855,091.88. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 in the last three months. 1.10% of the stock is owned by insiders.

Intercontinental Exchange 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.