Intercontinental Exchange, Inc. (NYSE:ICE) Stake Reduced by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. reduced its holdings in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 44.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,294 shares of the financial services provider's stock after selling 13,250 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Intercontinental Exchange were worth $2,428,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ICE. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $25,000. FSA Wealth Management LLC purchased a new stake in Intercontinental Exchange in the third quarter valued at approximately $31,000. Lee Danner & Bass Inc. acquired a new position in Intercontinental Exchange during the fourth quarter worth approximately $34,000. BankPlus Trust Department purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $40,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $45,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Down 1.0 %

NYSE:ICE traded down $1.71 on Friday, reaching $174.65. The stock had a trading volume of 3,199,231 shares, compared to its average volume of 2,778,671. The company has a 50-day moving average of $167.12 and a 200 day moving average of $160.56. 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 stock has a market cap of $100.35 billion, a P/E ratio of 36.54, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45.

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Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS 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, research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange's payout ratio is currently 40.17%.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 601 shares of the business'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 directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 5,661 shares of the firm's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on ICE. Keefe, Bruyette & Woods increased their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. UBS Group raised their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their target price on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a report on Friday, January 17th. Royal Bank of Canada reissued an "outperform" rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, Barclays boosted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an "overweight" 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.80.

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.