Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 117,492 shares of the financial services provider’s stock after selling 1,824 shares during the period. ARK Investment Management LLC’s holdings in Intercontinental Exchange were worth $12,030,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. lifted its stake in shares of Intercontinental Exchange by 5.6% in the 1st quarter. Benjamin Edwards Inc. now owns 1,703 shares of the financial services provider’s stock valued at $225,000 after purchasing an additional 90 shares in the last quarter. Leuthold Group LLC lifted its position in Intercontinental Exchange by 0.3% during the 1st quarter. Leuthold Group LLC now owns 31,367 shares of the financial services provider’s stock worth $4,144,000 after acquiring an additional 92 shares in the last quarter. Oak Asset Management LLC lifted its position in Intercontinental Exchange by 0.5% during the 1st quarter. Oak Asset Management LLC now owns 20,176 shares of the financial services provider’s stock worth $2,666,000 after acquiring an additional 95 shares in the last quarter. Glassman Wealth Services lifted its position in Intercontinental Exchange by 11.8% during the 4th quarter. Glassman Wealth Services now owns 909 shares of the financial services provider’s stock worth $124,000 after acquiring an additional 96 shares in the last quarter. Finally, Executive Wealth Management LLC lifted its position in Intercontinental Exchange by 0.9% during the 1st quarter. Executive Wealth Management LLC now owns 10,861 shares of the financial services provider’s stock worth $1,434,000 after acquiring an additional 96 shares in the last quarter. 87.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Argus reduced their price target on Intercontinental Exchange from $148.00 to $138.00 in a research report on Wednesday, June 1st. Raymond James dropped their price objective on Intercontinental Exchange from $142.00 to $126.00 and set a “strong-buy” rating on the stock in a report on Wednesday, June 22nd. Atlantic Securities boosted their price target on Intercontinental Exchange from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price target on Intercontinental Exchange from $124.00 to $131.00 and gave the company a “buy” rating in a report on Friday, August 12th. Finally, Rosenblatt Securities started coverage on Intercontinental Exchange in a report on Tuesday, August 16th. They issued a “buy” rating and a $164.00 price target for the company. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.75.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $107.73, for a total value of $172,368.00. Following the sale, the senior vice president now owns 22,402 shares of the company’s stock, valued at approximately $2,413,367.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Douglas Foley sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $107.73, for a total transaction of $172,368.00. Following the completion of the sale, the senior vice president now owns 22,402 shares in the company, valued at $2,413,367.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $107.00, for a total value of $267,500.00. Following the sale, the general counsel now owns 42,007 shares of the company’s stock, valued at approximately $4,494,749. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $97.27 on Monday. The business has a 50 day moving average price of $102.18 and a 200 day moving average price of $108.71. Intercontinental Exchange, Inc. has a twelve month low of $90.05 and a twelve month high of $139.79. The company has a market cap of $54.32 billion, a price-to-earnings ratio of 16.29, a PEG ratio of 3.51 and a beta of 0.89. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.79.

Intercontinental Exchange (NYSE:ICEGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The financial services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.31 by $0.01. Intercontinental Exchange had a return on equity of 13.52% and a net margin of 35.58%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.80 billion. During the same quarter in the prior year, the firm posted $1.16 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts predict that Intercontinental Exchange, Inc. will post 5.36 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.56%. Intercontinental Exchange’s dividend payout ratio is currently 25.46%.

Intercontinental Exchange Company Profile

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

Further Reading

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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