Xponance Inc. Decreases Stock Holdings in Intercontinental Exchange Inc. $ICE

Xponance Inc. reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 7.9% in the third quarter, HoldingsChannel.com reports. The firm owned 81,100 shares of the financial services provider’s stock after selling 6,909 shares during the period. Xponance Inc.’s holdings in Intercontinental Exchange were worth $13,664,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Intercontinental Exchange by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Intercontinental Exchange by 1.2% during the second quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock valued at $2,270,657,000 after buying an additional 145,961 shares during the period. Norges Bank bought a new position in shares of Intercontinental Exchange during the second quarter valued at approximately $1,542,780,000. Sands Capital Management LLC lifted its stake in Intercontinental Exchange by 97.3% in the second quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after acquiring an additional 2,620,310 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Intercontinental Exchange by 3.1% in the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,967,071 shares of the financial services provider’s stock valued at $836,852,000 after acquiring an additional 148,923 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the sale, the insider directly 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 12,861 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the sale, the president owned 165,692 shares of the company’s stock, valued at approximately $27,339,180. This represents a 7.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 354,492 shares of company stock worth $55,139,102 over the last quarter. 1.00% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $164.05 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $93.17 billion, a P/E ratio of 28.43, a P/E/G ratio of 1.70 and a beta of 1.02. The business’s 50 day moving average price is $164.47 and its 200-day moving average price is $163.57. 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 data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 33.28%.

Analyst Ratings Changes

ICE has been the subject of several research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. UBS Group reaffirmed a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. JPMorgan Chase & Co. reduced their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $211.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $195.40.

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.