Whittier Trust Co. Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Whittier Trust Co. lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE - Free Report) by 24.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,482 shares of the financial services provider's stock after selling 1,434 shares during the period. Whittier Trust Co.'s holdings in Intercontinental Exchange were worth $668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Oppenheimer & Co. Inc. bought a new position in shares of Intercontinental Exchange during the third quarter valued at approximately $227,000. Commerce Bank grew its stake in shares of Intercontinental Exchange by 1.3% in the 3rd quarter. Commerce Bank now owns 23,970 shares of the financial services provider's stock worth $3,851,000 after buying an additional 300 shares during the last quarter. Intech Investment Management LLC increased its position in Intercontinental Exchange by 45.7% during the 3rd quarter. Intech Investment Management LLC now owns 22,617 shares of the financial services provider's stock valued at $3,633,000 after buying an additional 7,090 shares in the last quarter. Pacer Advisors Inc. raised its stake in Intercontinental Exchange by 18.4% during the third quarter. Pacer Advisors Inc. now owns 70,154 shares of the financial services provider's stock valued at $11,270,000 after buying an additional 10,917 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in Intercontinental Exchange by 53.0% in the third quarter. Eagle Asset Management Inc. now owns 23,831 shares of the financial services provider's stock worth $3,728,000 after acquiring an additional 8,258 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

ICE has been the topic of a number of analyst reports. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Barclays upped their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. reduced their price target 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of "Moderate Buy" and an average price target of $178.80.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 7,900 shares of Intercontinental Exchange stock in a transaction 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 sale, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the stock in a transaction dated 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 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. Over the last 90 days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $0.80 during midday trading on Thursday, hitting $176.56. The stock had a trading volume of 2,945,931 shares, compared to its average volume of 2,603,452. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $178.10. The company has a market capitalization of $101.44 billion, a PE ratio of 36.94, a P/E/G ratio of 2.10 and a beta of 1.08. The firm's fifty day moving average is $166.08 and its two-hundred day moving average is $160.37. 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 (NYSE:ICE - Get Free Report) last announced its quarterly earnings data 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 net margin of 23.42% and a return on equity of 12.95%. On average, research analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current 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 paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is 40.17%.

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.