Destination Wealth Management Cuts Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Destination Wealth Management cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 168,921 shares of the financial services provider's stock after selling 3,907 shares during the quarter. Destination Wealth Management's holdings in Intercontinental Exchange were worth $25,171,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ICE. State Street Corp raised its position in Intercontinental Exchange by 1.2% in the third quarter. State Street Corp now owns 23,651,598 shares of the financial services provider's stock valued at $3,799,393,000 after purchasing an additional 281,503 shares during the last quarter. Geode Capital Management LLC raised its position in Intercontinental Exchange by 1.5% in the third quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider's stock valued at $1,848,868,000 after purchasing an additional 169,922 shares during the last quarter. FMR LLC raised its position in Intercontinental Exchange by 44.1% in the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider's stock valued at $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Parnassus Investments LLC raised its position in Intercontinental Exchange by 4.0% in the third quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider's stock valued at $1,259,213,000 after purchasing an additional 299,037 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock valued at $865,455,000 after purchasing an additional 390,332 shares during the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities analysts have commented on ICE shares. StockNews.com upgraded Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft increased their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a "hold" rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods raised their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $178.80.

Intercontinental Exchange Trading Up 0.4 %

NYSE ICE traded up $0.75 during trading hours on Friday, hitting $170.40. 3,541,790 shares of the company's stock were exchanged, compared to its average volume of 2,591,358. The stock has a 50-day simple moving average of $159.46 and a 200 day simple moving average of $159.29. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $175.41. The firm has a market cap of $97.91 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.10 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

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

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total value of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares of the company's stock, valued at approximately $1,908,967.06. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now directly owns 147,274 shares of the company's stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,268 shares of company stock valued at $11,262,789. Company insiders own 1.10% of the company's stock.

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.