Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 8.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 691,761 shares of the financial services provider’s stock after selling 60,501 shares during the period. The Manufacturers Life Insurance Company owned 0.12% of Intercontinental Exchange worth $103,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Strategic Advisors LLC raised its position in shares of Intercontinental Exchange by 5.1% during the 4th quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 66 shares in the last quarter. Commons Capital LLC raised its position in shares of Intercontinental Exchange by 1.2% during the 4th quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock worth $886,000 after acquiring an additional 69 shares in the last quarter. Brooklyn Investment Group raised its position in shares of Intercontinental Exchange by 2.2% during the 4th quarter. Brooklyn Investment Group now owns 3,190 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 70 shares in the last quarter. Clear Harbor Asset Management LLC increased its position in Intercontinental Exchange by 3.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 1,970 shares of the financial services provider’s stock worth $294,000 after buying an additional 70 shares during the period. Finally, Johnson Investment Counsel Inc. increased its position in Intercontinental Exchange by 2.3% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,121 shares of the financial services provider’s stock worth $465,000 after buying an additional 71 shares during the period. Institutional investors and hedge funds own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $163.63 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The company has a 50-day simple moving average of $166.39 and a 200-day simple moving average of $160.45. The company has a market capitalization of $94.00 billion, a PE ratio of 34.23, a P/E/G ratio of 2.10 and a beta of 1.09.

Intercontinental Exchange (NYSE:ICE) 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%. Equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barclays lifted their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. UBS Group lifted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America lowered their target price on 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 investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $182.47.

Insider Activity at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the firm’s stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the sale, the director now owns 21,364 shares in the company, valued at $3,396,876. This trade represents a 10.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange stock in a transaction dated Friday, February 7th. The stock was 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 owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. The trade was a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,931 shares of company stock worth $10,492,868 over the last 90 days. Company insiders own 1.00% of the company’s stock.

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.