Russell Investments Group Ltd. Sells 69,521 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Russell Investments Group Ltd. reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICEGet Rating) by 13.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 455,715 shares of the financial services provider’s stock after selling 69,521 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Intercontinental Exchange worth $41,241,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ellevest Inc. increased its holdings in Intercontinental Exchange by 396.4% during the 2nd quarter. Ellevest Inc. now owns 1,782 shares of the financial services provider’s stock worth $168,000 after purchasing an additional 1,423 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Intercontinental Exchange by 11.9% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 344,713 shares of the financial services provider’s stock worth $32,417,000 after purchasing an additional 36,673 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Intercontinental Exchange by 6.5% in the 3rd quarter. Raymond James & Associates now owns 1,781,186 shares of the financial services provider’s stock worth $160,933,000 after buying an additional 108,815 shares during the last quarter. Buttonwood Financial Advisors Inc. purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth approximately $640,000. Finally, Lincoln National Corp boosted its stake in shares of Intercontinental Exchange by 2.7% in the 2nd quarter. Lincoln National Corp now owns 13,007 shares of the financial services provider’s stock worth $1,223,000 after buying an additional 344 shares during the last quarter. 87.28% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of a number of research analyst reports. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Saturday, November 12th. Deutsche Bank Aktiengesellschaft dropped their price objective on Intercontinental Exchange from $134.00 to $131.00 in a research note on Wednesday, January 11th. Citigroup upped their price objective on Intercontinental Exchange from $102.00 to $110.00 in a research note on Thursday, January 12th. Raymond James upped their price objective on Intercontinental Exchange from $123.00 to $130.00 and gave the company a “strong-buy” rating in a research note on Tuesday, December 6th. Finally, TheStreet downgraded Intercontinental Exchange from a “b-” rating to a “c+” rating in a research note on Wednesday, October 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.25.

Intercontinental Exchange Trading Down 2.2 %

Shares of ICE stock opened at $106.25 on Wednesday. The company’s fifty day simple moving average is $105.10 and its two-hundred day simple moving average is $100.92. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.04 and a quick ratio of 1.04. Intercontinental Exchange, Inc. has a 1 year low of $88.60 and a 1 year high of $137.40. The stock has a market capitalization of $59.35 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 3.66 and a beta of 0.91.

Intercontinental Exchange (NYSE:ICEGet Rating) last issued its earnings results on Thursday, November 3rd. The financial services provider reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.05. Intercontinental Exchange had a net margin of 26.58% and a return on equity of 13.38%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.79 billion. As a group, analysts anticipate that Intercontinental Exchange, Inc. will post 5.31 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Stockholders of record on Thursday, December 15th were issued a $0.38 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $1.52 annualized dividend and a dividend yield of 1.43%. Intercontinental Exchange’s payout ratio is currently 33.70%.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $105.37, for a total value of $3,161,100.00. Following the transaction, the chief executive officer now owns 2,971,705 shares of the company’s stock, valued at $313,128,555.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jeffrey C. Sprecher sold 30,000 shares of the company’s stock in a transaction on Tuesday, November 29th. The shares were sold at an average price of $105.37, for a total value of $3,161,100.00. Following the transaction, the chief executive officer now owns 2,971,705 shares of the company’s stock, valued at $313,128,555.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction on Wednesday, November 23rd. The stock was sold at an average price of $105.98, for a total transaction of $169,568.00. Following the completion of the transaction, the senior vice president now directly owns 20,934 shares in the company, valued at approximately $2,218,585.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,100 shares of company stock valued at $3,593,168. 1.30% of the stock is currently owned by company insiders.

Intercontinental Exchange Company Profile

(Get Rating)

Intercontinental Exchange, Inc, together with its subsidiaries, operates regulated exchanges, clearing houses, and listings venues for commodity, financial, fixed income, and equity markets in the United States, the United Kingdom, the European Union, Singapore, Israel, and Canada. It operates through three segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology.

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

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