Sumitomo Mitsui Trust Group Inc. Trims Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sumitomo Mitsui Trust Group Inc. reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,174,626 shares of the financial services provider's stock after selling 24,298 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.38% of Intercontinental Exchange worth $349,332,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quintet Private Bank Europe S.A. increased its stake in Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider's stock valued at $82,000 after buying an additional 62 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Intercontinental Exchange by 26.4% during the 3rd quarter. Raleigh Capital Management Inc. now owns 302 shares of the financial services provider's stock worth $49,000 after purchasing an additional 63 shares during the last quarter. Integrated Advisors Network LLC raised its holdings in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider's stock worth $275,000 after purchasing an additional 66 shares during the period. American National Bank lifted its stake in Intercontinental Exchange by 13.8% in the second quarter. American National Bank now owns 569 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 69 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its position in Intercontinental Exchange by 6.2% in the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider's stock worth $192,000 after buying an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company's stock, valued at approximately $7,159,108.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Glen Williams sold 468 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total transaction of $76,195.08. Following the sale, the chief operating officer now directly owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,489 shares of company stock worth $1,202,259 in the last ninety days. Company insiders own 1.10% of the company's stock.

Intercontinental Exchange Stock Down 0.3 %

Shares of ICE stock traded down $0.54 during trading hours on Tuesday, reaching $156.54. 804,098 shares of the company's stock were exchanged, compared to its average volume of 2,565,349. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The company has a market cap of $89.88 billion, a price-to-earnings ratio of 37.22, a P/E/G ratio of 2.61 and a beta of 1.08. Intercontinental Exchange, Inc. has a fifty-two week low of $108.62 and a fifty-two week high of $167.99. The stock's 50 day moving average is $161.43 and its 200-day moving average is $149.49.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. Intercontinental Exchange's revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.46 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 6.07 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a dividend of $0.45 per share. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a yield of 1.15%. Intercontinental Exchange's dividend payout ratio is presently 42.65%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ICE. Bank of America increased their target price on Intercontinental Exchange from $168.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, October 3rd. Morgan Stanley increased their price target on shares of Intercontinental Exchange from $160.00 to $174.00 and gave the stock an "equal weight" rating in a report on Thursday, October 17th. Piper Sandler boosted their target price on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their price target on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, October 3rd. Finally, Raymond James downgraded shares of Intercontinental Exchange from a "strong-buy" rating to an "outperform" rating and set a $185.00 target price on the stock. in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.13.

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.