Envestnet Portfolio Solutions Inc. Lowers Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Envestnet Portfolio Solutions Inc. trimmed its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,078 shares of the financial services provider’s stock after selling 3,882 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Intercontinental Exchange were worth $10,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Pettyjohn Wood & White Inc. grew its position in Intercontinental Exchange by 0.5% in the 4th quarter. Pettyjohn Wood & White Inc. now owns 15,813 shares of the financial services provider’s stock valued at $2,031,000 after buying an additional 75 shares in the last quarter. Western Pacific Wealth Management LP lifted its holdings in shares of Intercontinental Exchange by 4.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 1,715 shares of the financial services provider’s stock valued at $220,000 after buying an additional 80 shares during the period. Busey Bank boosted its stake in Intercontinental Exchange by 3.4% during the first quarter. Busey Bank now owns 2,439 shares of the financial services provider’s stock valued at $335,000 after buying an additional 80 shares in the last quarter. Spire Wealth Management grew its holdings in Intercontinental Exchange by 16.4% during the first quarter. Spire Wealth Management now owns 582 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 82 shares during the period. Finally, Fortitude Family Office LLC raised its position in Intercontinental Exchange by 37.8% in the second quarter. Fortitude Family Office LLC now owns 299 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 82 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $0.54 during trading on Thursday, reaching $155.58. The stock had a trading volume of 975,611 shares, compared to its average volume of 2,472,456. The company has a quick ratio of 1.01, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $144.10 and a two-hundred day simple moving average of $137.92. The firm has a market capitalization of $89.24 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 2.68 and a beta of 1.06. Intercontinental Exchange, Inc. has a 52 week low of $104.49 and a 52 week high of $157.18.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, August 1st. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.03. The firm had revenue of $2.32 billion during the quarter, compared to analyst estimates of $2.31 billion. Intercontinental Exchange had a net margin of 21.43% and a return on equity of 12.70%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.43 EPS. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 6 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, September 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 41.28%.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,043 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $150.00, for a total transaction of $156,450.00. Following the completion of the transaction, the chief accounting officer now owns 17,836 shares of the company’s stock, valued at $2,675,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, Director Judith A. Sprieser sold 2,267 shares of Intercontinental Exchange stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $134.57, for a total transaction of $305,070.19. Following the sale, the director now directly owns 28,849 shares of the company’s stock, valued at $3,882,209.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO James W. Namkung sold 1,043 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $150.00, for a total value of $156,450.00. Following the completion of the transaction, the chief accounting officer now directly owns 17,836 shares of the company’s stock, valued at $2,675,400. The disclosure for this sale can be found here. Insiders sold a total of 64,992 shares of company stock worth $9,197,801 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $164.00 target price on shares of Intercontinental Exchange in a report on Friday, May 3rd. JPMorgan Chase & Co. upped their target price on Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Argus restated a “buy” rating and set a $153.00 price target on shares of Intercontinental Exchange in a report on Tuesday, May 21st. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Citigroup lifted their price objective on shares of Intercontinental Exchange from $160.00 to $162.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $154.79.

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.