Westpac Banking Corp Sells 7,666 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Westpac Banking Corp cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,844 shares of the financial services provider's stock after selling 7,666 shares during the quarter. Westpac Banking Corp's holdings in Intercontinental Exchange were worth $7,576,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Intercontinental Exchange by 1.0% during the fourth 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 in the last quarter. State Street Corp lifted its position in Intercontinental Exchange by 1.2% in the 3rd quarter. State Street Corp now owns 23,651,598 shares of the financial services provider's stock valued at $3,799,393,000 after acquiring an additional 281,503 shares in the last quarter. Geode Capital Management LLC boosted its stake in Intercontinental Exchange by 2.8% during the 4th 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 bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $1,196,258,000. Finally, Franklin Resources Inc. raised its stake in shares of Intercontinental Exchange by 8.0% in the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider's stock worth $865,455,000 after purchasing an additional 390,332 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ICE. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a report on Wednesday, April 2nd. JPMorgan Chase & Co. dropped their price target 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. Royal Bank of Canada restated an "outperform" rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, UBS Group lifted their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $182.47.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $1.34 during midday trading on Tuesday, reaching $155.99. The stock had a trading volume of 1,641,485 shares, compared to its average volume of 2,860,761. The firm has a market capitalization of $89.62 billion, a PE ratio of 32.56, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $177.45. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm's 50-day moving average price is $168.37 and its 200 day moving average price is $160.75.

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

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's payout ratio is 40.17%.

Insider Activity at Intercontinental Exchange

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction 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 transaction, the insider now directly owns 12,922 shares in the company, valued at approximately $1,908,967.06. This 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 valued at $10,998,990 over the last three months. 1.10% of the stock is owned by corporate insiders.

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.