Robertson Stephens Wealth Management LLC Has $205,000 Position in Intercontinental Exchange Inc. (NYSE:ICE)

Robertson Stephens Wealth Management LLC decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,188 shares of the financial services provider’s stock after selling 589 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Intercontinental Exchange were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ICE. Vanguard Group Inc. lifted its stake in Intercontinental Exchange by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock worth $7,782,521,000 after purchasing an additional 538,670 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after buying an additional 327,637 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Intercontinental Exchange by 132.9% during the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider’s stock worth $1,359,173,000 after buying an additional 5,204,309 shares during the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange in the fourth quarter valued at about $1,196,258,000. Finally, Northern Trust Corp grew its position in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider’s stock valued at $1,105,953,000 after acquiring an additional 655,247 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ICE shares. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Barclays increased their price objective on shares of Intercontinental Exchange from $189.00 to $198.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Finally, Morgan Stanley upped their price target on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $188.46.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the sale, the chief executive officer now owns 2,101,705 shares of the company’s stock, valued at approximately $376,667,570.10. This represents a 6.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Martha A. Tirinnanzi sold 397 shares of Intercontinental Exchange stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $177.11, for a total value of $70,312.67. Following the completion of the transaction, the director now directly owns 4,526 shares of the company’s stock, valued at approximately $801,599.86. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 227,954 shares of company stock worth $40,796,663 over the last three months. 1.00% of the stock is owned by company insiders.

Intercontinental Exchange Stock Down 0.8%

Shares of NYSE:ICE opened at $179.57 on Friday. The firm has a market cap of $103.01 billion, a P/E ratio of 37.18, a P/E/G ratio of 1.94 and a beta of 1.12. Intercontinental Exchange Inc. has a 12-month low of $134.78 and a 12-month high of $182.11. The business has a fifty day simple moving average of $172.32 and a 200 day simple moving average of $164.58. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The firm’s quarterly revenue was up 8.0% on a year-over-year basis. Analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.07%. Intercontinental Exchange’s dividend payout ratio is currently 39.75%.

About Intercontinental Exchange

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.