Keel Point LLC Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Keel Point LLC trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.7% during the second quarter, HoldingsChannel.com reports. The firm owned 32,609 shares of the financial services provider’s stock after selling 2,349 shares during the quarter. Keel Point LLC’s holdings in Intercontinental Exchange were worth $3,687,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in ICE. GPS Wealth Strategies Group LLC purchased a new stake in shares of Intercontinental Exchange in the first quarter worth about $25,000. OLD Mission Capital LLC purchased a new stake in shares of Intercontinental Exchange in the fourth quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Intercontinental Exchange by 187.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 256 shares of the financial services provider’s stock valued at $26,000 after buying an additional 167 shares during the period. Spire Wealth Management increased its stake in Intercontinental Exchange by 374.6% in the 1st quarter. Spire Wealth Management now owns 299 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 236 shares during the last quarter. Finally, Piscataqua Savings Bank boosted its position in shares of Intercontinental Exchange by 35.1% during the 1st quarter. Piscataqua Savings Bank now owns 385 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 87.91% of the company’s stock.

Intercontinental Exchange Stock Down 0.2 %

Shares of Intercontinental Exchange stock traded down $0.27 during trading on Tuesday, hitting $115.62. The company’s stock had a trading volume of 310,706 shares, compared to its average volume of 2,457,193. Intercontinental Exchange, Inc. has a 52 week low of $88.60 and a 52 week high of $118.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.10 and a current ratio of 1.10. The company has a fifty day simple moving average of $115.40 and a two-hundred day simple moving average of $109.62. The company has a market capitalization of $64.78 billion, a PE ratio of 38.50, a P/E/G ratio of 2.30 and a beta of 0.93.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion. Intercontinental Exchange had a net margin of 17.64% and a return on equity of 13.11%. The firm’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. Equities research analysts predict that Intercontinental Exchange, Inc. will post 5.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.68 annualized dividend and a yield of 1.45%. Intercontinental Exchange’s dividend payout ratio (DPR) is 55.81%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,000 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $115.54, for a total transaction of $346,620.00. Following the completion of the sale, the president now owns 125,647 shares of the company’s stock, valued at $14,517,254.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Intercontinental Exchange news, President Benjamin Jackson sold 3,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $115.54, for a total transaction of $346,620.00. Following the transaction, the president now owns 125,647 shares of the company’s stock, valued at $14,517,254.38. 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 1,044 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $115.54, for a total transaction of $120,623.76. Following the completion of the transaction, the insider now owns 16,256 shares of the company’s stock, valued at $1,878,218.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,563 shares of company stock valued at $1,218,379. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ICE shares. Citigroup raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and raised their target price for the company from $117.00 to $130.00 in a research note on Friday, August 4th. StockNews.com initiated coverage on Intercontinental Exchange in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $168.00 price target on shares of Intercontinental Exchange in a research note on Friday, August 4th. Barclays reduced their price objective on Intercontinental Exchange from $128.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. Finally, Morgan Stanley dropped their target price on Intercontinental Exchange from $124.00 to $118.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 6th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $133.09.

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.