Wells Fargo & Company MN Sells 51,082 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Wells Fargo & Company MN reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,877,432 shares of the financial services provider's stock after selling 51,082 shares during the quarter. Wells Fargo & Company MN owned about 0.50% of Intercontinental Exchange worth $428,766,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $1,196,258,000. Raymond James Financial Inc. acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth $406,728,000. Swedbank AB boosted its stake in shares of Intercontinental Exchange by 2,293.3% in the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider's stock valued at $330,171,000 after purchasing an additional 2,123,185 shares during the period. AMF Tjanstepension AB increased its stake in Intercontinental Exchange by 1,237.7% during the 4th quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider's stock worth $253,591,000 after buying an additional 1,574,386 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in Intercontinental Exchange by 285.9% in the 3rd quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider's stock worth $282,148,000 after buying an additional 1,301,200 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Price Performance

NYSE:ICE traded down $3.68 during midday trading on Thursday, hitting $153.13. 1,824,675 shares of the stock were exchanged, compared to its average volume of 2,902,802. The company has a market capitalization of $87.97 billion, a price-to-earnings ratio of 31.92, a P/E/G ratio of 2.10 and a beta of 1.09. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The business has a 50-day moving average price of $167.97 and a two-hundred day moving average price of $160.57.

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

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's payout ratio is 40.17%.

Insiders Place Their Bets

In other news, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the transaction, the president now directly owns 147,274 shares of the company's stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm's stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total transaction of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company's stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Barclays increased 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. 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. Keefe, Bruyette & Woods increased their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. dropped their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an "overweight" rating for the company in a research report on Friday, January 17th. Finally, Bank of America cut their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $182.47.

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.