Raymond James Financial Services Advisors Inc. Sells 10,079 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Raymond James Financial Services Advisors Inc. lessened its position in shares of Intercontinental Exchange, Inc. (NYSE:ICEFree Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 996,658 shares of the financial services provider’s stock after selling 10,079 shares during the period. Raymond James Financial Services Advisors Inc. owned approximately 0.18% of Intercontinental Exchange worth $128,001,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Nordea Investment Management AB boosted its holdings in Intercontinental Exchange by 27.3% in the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock valued at $7,311,000 after purchasing an additional 12,208 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of Intercontinental Exchange by 7.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock valued at $13,956,000 after buying an additional 8,320 shares in the last quarter. First County Bank CT grew its position in Intercontinental Exchange by 2.7% during the third quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after buying an additional 100 shares in the last quarter. CIC Wealth LLC bought a new position in Intercontinental Exchange during the 4th quarter worth $221,000. Finally, Fortitude Family Office LLC acquired a new position in Intercontinental Exchange in the 4th quarter valued at $28,000. Institutional investors own 89.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on ICE shares. Citigroup raised their price target on Intercontinental Exchange from $146.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Barclays lifted their price target on Intercontinental Exchange from $148.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. JPMorgan Chase & Co. lifted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Finally, Rosenblatt Securities lifted their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $145.83.

Read Our Latest Research Report on Intercontinental Exchange

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $136.23 on Monday. The business has a 50-day simple moving average of $133.57 and a 200 day simple moving average of $121.51. Intercontinental Exchange, Inc. has a one year low of $95.66 and a one year high of $140.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $78.01 billion, a price-to-earnings ratio of 32.44, a PEG ratio of 2.44 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICEGet Free Report) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the firm earned $1.25 earnings per share. Intercontinental Exchange’s revenue for the quarter was up 24.5% on a year-over-year basis. On average, research analysts anticipate that Intercontinental Exchange, Inc. will post 5.91 earnings per share for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a dividend of $0.45 per share. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.80 annualized dividend and a dividend yield of 1.32%. Intercontinental Exchange’s payout ratio is presently 42.86%.

Insider Activity at Intercontinental Exchange

In related news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares of the company’s stock, valued at approximately $6,504,420.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,364 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $126.00, for a total transaction of $297,864.00. Following the completion of the sale, the general counsel now directly owns 43,493 shares of the company’s stock, valued at $5,480,118. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of Intercontinental Exchange stock in a transaction on Monday, March 4th. The stock was acquired at an average price of $0.87 per share, with a total value of $2,402,947.83. Following the purchase, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The disclosure for this purchase can be found here. Insiders have sold a total of 157,617 shares of company stock valued at $20,784,288 over the last 90 days. Insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

(Free Report)

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.

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

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