Russell Investments Group Ltd. Sells 34,417 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Russell Investments Group Ltd. cut its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,585 shares of the financial services provider’s stock after selling 34,417 shares during the period. Russell Investments Group Ltd. owned approximately 0.07% of Intercontinental Exchange worth $57,474,000 as of its most recent filing with the Securities and Exchange Commission.

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

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $156.89 on Monday. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $177.45. The company’s 50 day moving average price is $168.49 and its two-hundred day moving average price is $160.78. The stock has a market cap 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. 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 results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared 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. 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 dividend payout ratio (DPR) is currently 40.17%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ICE. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Bank of America cut their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday, April 2nd. 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 report on Friday, February 7th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.47.

Insider Activity at Intercontinental Exchange

In related news, President Benjamin Jackson sold 7,900 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the sale, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at $9,821,819.32. This represents a 7.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,563 shares of company stock worth $10,998,990. 1.10% of the stock is owned by company insiders.

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.