NewEdge Wealth LLC Sells 5,471 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

NewEdge Wealth LLC lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 22.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,801 shares of the financial services provider’s stock after selling 5,471 shares during the period. NewEdge Wealth LLC’s holdings in Intercontinental Exchange were worth $2,802,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. AMF Tjanstepension AB lifted its position in shares of Intercontinental Exchange by 14.5% in the third quarter. AMF Tjanstepension AB now owns 127,199 shares of the financial services provider’s stock worth $20,441,000 after purchasing an additional 16,130 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Intercontinental Exchange by 21,404.8% in the third quarter. International Assets Investment Management LLC now owns 39,999 shares of the financial services provider’s stock worth $6,425,000 after purchasing an additional 39,813 shares in the last quarter. Integrated Advisors Network LLC lifted its position in shares of Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 66 shares in the last quarter. Pinnacle Associates Ltd. lifted its position in shares of Intercontinental Exchange by 9.2% in the third quarter. Pinnacle Associates Ltd. now owns 10,120 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 854 shares in the last quarter. Finally, SteelPeak Wealth LLC bought a new stake in shares of Intercontinental Exchange in the third quarter worth $240,000. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $173.21 on Friday. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $173.54. The company has a market cap of $99.52 billion, a P/E ratio of 36.24, a P/E/G ratio of 2.10 and a beta of 1.11. The firm’s fifty day moving average price is $157.41 and its two-hundred day moving average price is $158.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last released 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 analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders 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 annualized dividend and a dividend yield of 1.11%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now directly owns 44,702 shares in the company, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,268 shares of company stock worth $11,262,789 over the last ninety days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted 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. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. UBS Group upped their price target on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Barclays upped their price target 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. 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, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.80.

About Intercontinental Exchange

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.