Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 210,699 shares of the financial services provider's stock after selling 3,125 shares during the period. State of Tennessee Department of Treasury's holdings in Intercontinental Exchange were worth $31,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Vanguard Group Inc. grew its stake in Intercontinental Exchange by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider's stock valued at $7,782,521,000 after acquiring an additional 538,670 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intercontinental Exchange by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider's stock valued at $1,765,317,000 after purchasing an additional 327,637 shares during the last quarter. Norges Bank acquired a new position in shares of Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Independent Franchise Partners LLP grew its holdings in Intercontinental Exchange by 20.8% during the 4th quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider's stock valued at $918,026,000 after buying an additional 1,062,904 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock worth $865,455,000 after buying an additional 390,332 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Intercontinental Exchange Stock Up 0.3 %

NYSE ICE traded up $0.42 during trading hours on Friday, hitting $163.40. The company had a trading volume of 1,642,782 shares, compared to its average volume of 2,923,981. The firm's 50 day moving average is $166.52 and its 200 day moving average is $160.44. The company has a market capitalization of $93.87 billion, a price-to-earnings ratio of 34.18, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. 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 released its quarterly 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%. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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 issued 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 1.18%. Intercontinental Exchange's dividend payout ratio is currently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 10,580 shares of the business's stock in a transaction dated Friday, February 7th. The stock was 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 in the company, valued at approximately $3,661,008.24. The trade was a 32.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the firm's stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the sale, the president now owns 164,041 shares of the company's stock, valued at approximately $27,183,234.11. This trade represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,931 shares of company stock valued at $10,492,868 in the last ninety days. Insiders own 1.00% of the company's stock.

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.