Invesco Ltd. Sells 1,390,841 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Invesco Ltd. trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 23.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,613,746 shares of the financial services provider’s stock after selling 1,390,841 shares during the quarter. Invesco Ltd. owned approximately 0.80% of Intercontinental Exchange worth $687,494,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Sierra Ocean LLC acquired a new stake in Intercontinental Exchange during the 4th quarter valued at $25,000. Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange during the 4th quarter worth about $34,000. BankPlus Trust Department acquired a new stake in Intercontinental Exchange in the 4th quarter valued at about $40,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $45,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Down 1.4 %

Intercontinental Exchange stock opened at $154.53 on Tuesday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $88.78 billion, a price-to-earnings ratio of 32.33, a PEG ratio of 2.10 and a beta of 1.09. The company’s 50 day simple moving average is $168.37 and its 200 day simple moving average is $160.75.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results 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 return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.24%. Intercontinental Exchange’s payout ratio is 40.17%.

Analysts Set New Price Targets

Several research analysts have issued reports on ICE shares. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Bank of America lowered their price objective on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. UBS Group upped their target price on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $182.47.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 5,828 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.71, for a total value of $965,757.88. Following the completion of the transaction, the president now directly owns 164,041 shares in the company, valued at approximately $27,183,234.11. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $147.73, 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 trade represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock worth $10,998,990 over the last ninety days. 1.10% of the stock is currently 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.