Wells Fargo & Company MN Has $428.77 Million Stock Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Wells Fargo & Company MN lowered its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,877,432 shares of the financial services provider’s stock after selling 51,082 shares during the quarter. Wells Fargo & Company MN’s holdings in Intercontinental Exchange were worth $428,766,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Sierra Ocean LLC acquired a new position in Intercontinental Exchange during the fourth quarter worth $25,000. Lee Danner & Bass Inc. bought a new stake in shares of Intercontinental Exchange during the fourth quarter worth about $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange in the 4th quarter valued at about $40,000. Mountain Hill Investment Partners Corp. acquired a new position in Intercontinental Exchange during the 4th quarter valued at about $45,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $51,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, 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 value of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher Scott Edmonds sold 6,834 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the sale, the insider now directly owns 17,972 shares in the company, valued at $3,001,144.28. This trade represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,563 shares of company stock valued at $10,998,990 over the last three months. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Down 6.4 %

Shares of Intercontinental Exchange stock opened at $156.89 on Friday. The stock has a market capitalization of $90.13 billion, a P/E ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day simple moving average is $168.49 and its 200 day simple moving average is $160.80.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results 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%. As a group, research analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 40.17%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ICE. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Barclays lifted their target price 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. Finally, Bank of America decreased their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average price target of $182.47.

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.