Senator Investment Group LP Sells 93,851 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Senator Investment Group LP trimmed its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 18.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 414,574 shares of the financial services provider’s stock after selling 93,851 shares during the quarter. Intercontinental Exchange accounts for about 1.8% of Senator Investment Group LP’s portfolio, making the stock its 16th largest position. Senator Investment Group LP owned 0.07% of Intercontinental Exchange worth $61,776,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sierra Ocean LLC bought a new position in Intercontinental Exchange during the 4th quarter worth $25,000. Redwood Park Advisors LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $33,000. Lee Danner & Bass Inc. acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $34,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange in the fourth quarter valued at approximately $40,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in Intercontinental Exchange during the 4th quarter worth approximately $45,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Christopher Scott Edmonds sold 6,834 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total transaction of $1,141,209.66. Following the completion of the transaction, the insider now directly owns 17,972 shares of the company’s stock, valued at $3,001,144.28. This represents a 27.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Benjamin Jackson sold 5,828 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $165.71, for a total value of $965,757.88. Following the completion of the transaction, the president now owns 164,041 shares in the company, valued at approximately $27,183,234.11. The trade was a 3.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,931 shares of company stock worth $10,492,868. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Trading Down 0.1 %

Shares of Intercontinental Exchange stock opened at $158.34 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $167.10 and a 200 day simple moving average of $160.47. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $177.45. The company has a market capitalization of $90.97 billion, a P/E ratio of 33.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Analysts Set New Price Targets

ICE has been the topic of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. UBS Group increased their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.47.

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.