Intercontinental Exchange Inc. $ICE Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 137,680 shares of the financial services provider’s stock after selling 6,643 shares during the quarter. Geneva Capital Management LLC’s holdings in Intercontinental Exchange were worth $23,196,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in ICE. Dynasty Wealth Management LLC acquired a new stake in Intercontinental Exchange in the 3rd quarter valued at approximately $897,000. Rockland Trust Co. raised its holdings in Intercontinental Exchange by 19.7% during the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after purchasing an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in shares of Intercontinental Exchange by 37.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after buying an additional 3,261 shares during the period. Eastern Bank increased its stake in Intercontinental Exchange by 14.6% during the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock worth $34,325,000 after purchasing an additional 25,980 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its holdings in shares of Intercontinental Exchange by 1.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after purchasing an additional 13,497 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an “overweight” rating in a research report on Friday, February 6th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. UBS Group restated a “buy” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $194.73.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 3,865 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $153.73, for a total transaction of $594,166.45. Following the transaction, the president directly owned 165,304 shares of the company’s stock, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. This trade represents a 44.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 350,018 shares of company stock valued at $54,457,751. 1.00% of the stock is currently owned by insiders.

Intercontinental Exchange Stock Down 2.0%

ICE opened at $156.96 on Thursday. 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 business’s fifty day simple moving average is $164.61 and its 200 day simple moving average is $162.50. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The stock has a market cap of $89.13 billion, a PE ratio of 27.20, a P/E/G ratio of 1.73 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $2.51 billion. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 36.05%.

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.