Chevy Chase Trust Holdings LLC Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Chevy Chase Trust Holdings LLC decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,432 shares of the financial services provider’s stock after selling 6,541 shares during the period. Chevy Chase Trust Holdings LLC owned 0.05% of Intercontinental Exchange worth $44,916,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in shares of 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 buying an additional 281,503 shares during the period. Geode Capital Management LLC grew its stake in shares of Intercontinental Exchange by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 11,555,615 shares of the financial services provider’s stock valued at $1,848,868,000 after buying an additional 169,922 shares during the period. FMR LLC grew its stake in shares of Intercontinental Exchange by 44.1% in the 3rd quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock valued at $1,260,449,000 after buying an additional 2,401,630 shares during the period. Parnassus Investments LLC grew its stake in shares of Intercontinental Exchange by 4.0% in the 3rd quarter. Parnassus Investments LLC now owns 7,838,727 shares of the financial services provider’s stock valued at $1,259,213,000 after buying an additional 299,037 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of Intercontinental Exchange by 8.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insider Activity

In related news, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now owns 12,922 shares in the company, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,358 shares of company stock worth $5,535,650. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.85 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $169.78. The company’s 50 day moving average is $154.20 and its two-hundred day moving average is $157.45. The firm has a market cap of $95.80 billion, a PE ratio of 34.91, a price-to-earnings-growth ratio of 3.21 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates 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 expect that Intercontinental Exchange, Inc. will post 6.63 EPS 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. Stockholders 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 dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 37.66%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several analyst reports. UBS Group increased their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $178.80.

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.