Legal & General Group Plc Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Legal & General Group Plc decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 23.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,340,445 shares of the financial services provider’s stock after selling 1,051,582 shares during the quarter. Legal & General Group Plc’s holdings in Intercontinental Exchange were worth $497,760,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. IHT Wealth Management LLC lifted its position in Intercontinental Exchange by 13.8% in the 3rd quarter. IHT Wealth Management LLC now owns 2,063 shares of the financial services provider’s stock worth $332,000 after buying an additional 250 shares during the last quarter. EP Wealth Advisors LLC grew its stake in shares of Intercontinental Exchange by 3.9% during the third quarter. EP Wealth Advisors LLC now owns 6,922 shares of the financial services provider’s stock valued at $1,112,000 after buying an additional 257 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Intercontinental Exchange by 10.6% in the third quarter. MML Investors Services LLC now owns 54,673 shares of the financial services provider’s stock worth $8,783,000 after buying an additional 5,224 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Intercontinental Exchange by 6.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 169,270 shares of the financial services provider’s stock valued at $27,192,000 after acquiring an additional 10,399 shares during the last quarter. Finally, Roffman Miller Associates Inc. PA boosted its holdings in Intercontinental Exchange by 8.6% during the 3rd quarter. Roffman Miller Associates Inc. PA now owns 106,490 shares of the financial services provider’s stock valued at $17,106,000 after acquiring an additional 8,413 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 1.4 %

NYSE:ICE opened at $154.53 on Tuesday. The firm has a market capitalization of $88.78 billion, a P/E ratio of 32.33, a PEG ratio of 2.10 and a beta of 1.09. 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, Inc. has a one year low of $124.34 and a one year high of $177.45. The company’s 50-day simple moving average is $168.37 and its 200 day simple moving average is $160.75.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, analysts forecast that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal 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 dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.24%. Intercontinental Exchange’s payout ratio is presently 40.17%.

Insider Transactions at Intercontinental Exchange

In other news, President Benjamin Jackson sold 7,900 shares of the company’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 transaction, the president now owns 147,274 shares in the company, valued at approximately $25,247,181.82. This represents a 5.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Christopher Scott Edmonds sold 601 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,908,967.06. This trade represents a 4.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,563 shares of company stock valued at $10,998,990 in the last quarter. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ICE. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America lowered their price target on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays increased their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.47.

Intercontinental Exchange Company 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.