Clearbridge Investments LLC Sells 378,194 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Clearbridge Investments LLC trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 2,618,867 shares of the financial services provider’s stock after selling 378,194 shares during the quarter. Clearbridge Investments LLC’s holdings in Intercontinental Exchange were worth $390,237,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. United Bank lifted its position in Intercontinental Exchange by 6.8% during the 4th quarter. United Bank now owns 12,646 shares of the financial services provider’s stock worth $1,884,000 after acquiring an additional 802 shares during the period. RWA Wealth Partners LLC boosted its position in Intercontinental Exchange by 8.7% in the fourth quarter. RWA Wealth Partners LLC now owns 15,424 shares of the financial services provider’s stock valued at $2,298,000 after buying an additional 1,233 shares during the last quarter. Schroder Investment Management Group increased its holdings in Intercontinental Exchange by 30.3% in the 4th quarter. Schroder Investment Management Group now owns 907,189 shares of the financial services provider’s stock worth $135,507,000 after buying an additional 211,072 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Intercontinental Exchange by 55.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,557,569 shares of the financial services provider’s stock worth $232,093,000 after buying an additional 555,680 shares during the last quarter. Finally, American Money Management LLC lifted its stake in Intercontinental Exchange by 1.1% during the 4th quarter. American Money Management LLC now owns 14,201 shares of the financial services provider’s stock valued at $2,116,000 after acquiring an additional 148 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of several recent research reports. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Keefe, Bruyette & Woods increased their target price on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays upped their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, UBS Group raised their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $174.65 on Friday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The stock’s fifty day moving average is $167.12 and its two-hundred day moving average is $160.56. The company has a market capitalization of $100.35 billion, a P/E ratio of 36.54, a P/E/G ratio of 2.10 and a beta of 1.08. 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 (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (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 EPS for the current year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the sale, the insider now directly owns 12,922 shares in the company, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at approximately $25,247,181.82. The trade was a 5.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 over the last quarter. 1.10% of the stock is owned by company 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.