Russell Investments Group Ltd. Sells 34,417 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Russell Investments Group Ltd. lowered its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 8.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,585 shares of the financial services provider's stock after selling 34,417 shares during the period. Russell Investments Group Ltd. owned 0.07% of Intercontinental Exchange worth $57,474,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC raised its position in 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 valued at $5,647,000 after purchasing an additional 366 shares during the last quarter. Kestra Private Wealth Services LLC increased its stake in shares of Intercontinental Exchange by 6.9% in the fourth quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider's stock valued at $11,022,000 after buying an additional 4,787 shares in the last quarter. M&T Bank Corp raised its holdings in shares of 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 buying an additional 11,648 shares during the last quarter. Avantra Family Wealth Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth about $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its position in Intercontinental Exchange by 9.2% during 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 buying an additional 61,110 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ICE shares. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Bank of America dropped their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, April 2nd. UBS Group increased their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price target on Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating on the stock in a report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $182.47.

Intercontinental Exchange Trading Up 0.5 %

NYSE:ICE traded up $0.73 during trading hours on Friday, hitting $155.92. The stock had a trading volume of 2,786,452 shares, compared to its average volume of 2,919,019. The business's 50 day moving average is $167.80 and its 200-day moving average is $160.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $89.57 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS 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. Stockholders 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 dividend yield of 1.23%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange's dividend payout ratio is currently 40.17%.

Insider Activity

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the transaction, the senior vice president now owns 21,992 shares of the company's stock, valued at approximately $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 12,922 shares of the company's stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,563 shares of company stock worth $10,998,990 in the last 90 days. Corporate 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.