Stralem & Co. Inc. decreased its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 1.5% during the 1st quarter, HoldingsChannel reports. The fund owned 89,135 shares of the financial services provider’s stock after selling 1,320 shares during the period. Intercontinental Exchange accounts for about 3.1% of Stralem & Co. Inc.’s holdings, making the stock its 18th largest position. Stralem & Co. Inc.’s holdings in Intercontinental Exchange were worth $6,787,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Allred Capital Management LLC lifted its stake in Intercontinental Exchange by 4.0% during the 1st quarter. Allred Capital Management LLC now owns 3,489 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 133 shares in the last quarter. Steinberg Global Asset Management increased its stake in Intercontinental Exchange by 2.1% in the 1st quarter. Steinberg Global Asset Management now owns 34,105 shares of the financial services provider’s stock valued at $2,473,000 after purchasing an additional 700 shares in the last quarter. Raymond James Trust N.A. increased its stake in Intercontinental Exchange by 20.9% in the 1st quarter. Raymond James Trust N.A. now owns 14,215 shares of the financial services provider’s stock valued at $1,083,000 after purchasing an additional 2,454 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new position in Intercontinental Exchange in the 1st quarter valued at approximately $746,000. Finally, Tandem Investment Advisors Inc. increased its stake in Intercontinental Exchange by 13.5% in the 1st quarter. Tandem Investment Advisors Inc. now owns 188,912 shares of the financial services provider’s stock valued at $14,384,000 after purchasing an additional 22,492 shares in the last quarter. 90.55% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts recently weighed in on the company. Bank of America set a $85.00 price objective on Intercontinental Exchange and gave the company a “buy” rating in a research note on Tuesday, April 9th. Zacks Investment Research downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Monday, January 14th. ValuEngine downgraded shares of Intercontinental Exchange from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Wells Fargo & Co boosted their target price on shares of Intercontinental Exchange from $79.00 to $81.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Finally, Citigroup raised shares of Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 target price on the stock in a research note on Tuesday, January 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $85.55.

In related news, CEO Jeffrey C. Sprecher sold 92,502 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $74.33, for a total value of $6,875,673.66. Following the completion of the sale, the chief executive officer now directly owns 1,553,471 shares in the company, valued at $115,469,499.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Charles A. Vice sold 25,000 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $76.82, for a total transaction of $1,920,500.00. Following the completion of the sale, the insider now owns 427,621 shares of the company’s stock, valued at $32,849,845.22. The disclosure for this sale can be found here. Insiders sold 218,627 shares of company stock worth $16,458,501 over the last ninety days. 1.50% of the stock is currently owned by company insiders.

Shares of NYSE ICE traded up $0.99 during mid-day trading on Wednesday, reaching $80.43. The company had a trading volume of 136,089 shares, compared to its average volume of 2,826,586. Intercontinental Exchange Inc has a twelve month low of $67.70 and a twelve month high of $82.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $44.94 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.54 and a beta of 0.48.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a net margin of 31.68% and a return on equity of 12.23%. The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the prior year, the business posted $0.73 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 14.1% compared to the same quarter last year. As a group, analysts predict that Intercontinental Exchange Inc will post 3.73 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, September 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 30.64%.

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Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, European Union, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings.

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Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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