Intercontinental Exchange Inc. $ICE Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,392 shares of the financial services provider’s stock after selling 11,162 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Intercontinental Exchange were worth $49,431,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ICE. Vanguard Group Inc. increased its position in Intercontinental Exchange by 1.4% during the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock worth $9,849,677,000 after purchasing an additional 745,135 shares during the last quarter. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares during the period. Norges Bank acquired a new position in shares of Intercontinental Exchange in the 2nd quarter valued at $1,542,780,000. Capital World Investors boosted its holdings in shares of Intercontinental Exchange by 15.2% in the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC grew its stake in shares of Intercontinental Exchange by 6.9% during the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock valued at $956,506,000 after buying an additional 364,227 shares during the period. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Morgan Stanley set a $183.00 price target on Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $194.73.

Intercontinental Exchange Stock Performance

Shares of ICE stock opened at $159.12 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $90.36 billion, a PE ratio of 27.58, a P/E/G ratio of 1.72 and a beta of 1.04. The company’s fifty day simple moving average is $164.52 and its 200-day simple moving average is $162.11. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the company earned $1.52 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate 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 Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is presently 33.28%.

Insiders Place Their Bets

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares of the company’s stock, valued at approximately $7,805,322. The trade was a 8.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. This represents a 19.85% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 348,418 shares of company stock valued at $54,196,631. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.