Mattern Capital Management LLC Sells 3,001 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Mattern Capital Management LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 57,644 shares of the financial services provider's stock after selling 3,001 shares during the quarter. Mattern Capital Management LLC's holdings in Intercontinental Exchange were worth $8,590,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in shares of Intercontinental Exchange by 1.1% in 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 purchasing an additional 366 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock worth $11,022,000 after acquiring an additional 4,787 shares in the last quarter. M&T Bank Corp lifted its stake in shares of Intercontinental Exchange by 33.2% in the 3rd 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. bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. raised its holdings in Intercontinental Exchange by 9.2% in the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider's stock worth $108,515,000 after buying an additional 61,110 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ICE shares. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Royal Bank of Canada restated an "outperform" rating and issued a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays upped their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Finally, UBS Group upped their target price 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. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $1.25 during trading hours on Friday, reaching $168.04. 2,853,143 shares of the company traded hands, compared to its average volume of 2,404,252. The firm has a 50-day moving average price of $155.42 and a 200 day moving average price of $158.13. The company has a market cap of $96.55 billion, a P/E ratio of 35.15, a P/E/G ratio of 2.10 and a beta of 1.11. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly 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 return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared 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 of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.14%. Intercontinental Exchange's payout ratio is presently 37.66%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the completion of the sale, the chief operating officer now directly owns 12,780 shares of the company's stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the completion of the transaction, the insider now directly owns 17,972 shares in the company, valued at $3,001,144.28. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,196 shares of company stock valued at $10,840,972 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

About Intercontinental Exchange

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.