Dimensional Fund Advisors LP Decreases Stock Position in Intercontinental Exchange Inc. $ICE

Dimensional Fund Advisors LP lowered its position in Intercontinental Exchange Inc. (NYSE:ICE) by 4.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,257,040 shares of the financial services provider’s stock after selling 116,967 shares during the period. Dimensional Fund Advisors LP owned 0.40% of Intercontinental Exchange worth $354,991,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. J. Stern & Co. LLP grew its position in shares of Intercontinental Exchange by 17,398.1% in the fourth quarter. J. Stern & Co. LLP now owns 54,107,273 shares of the financial services provider’s stock valued at $8,763,214,000 after purchasing an additional 53,798,055 shares in the last quarter. Norges Bank acquired a new position in shares of Intercontinental Exchange during the 4th quarter valued at about $1,418,228,000. Viking Global Investors LP purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $777,926,000. Boston Partners grew its holdings in shares of Intercontinental Exchange by 148.6% in the fourth quarter. Boston Partners now owns 3,203,845 shares of the financial services provider’s stock valued at $519,701,000 after purchasing an additional 1,914,851 shares during the period. Finally, Focus Partners Wealth increased its position in Intercontinental Exchange by 569.8% during the fourth quarter. Focus Partners Wealth now owns 2,210,948 shares of the financial services provider’s stock worth $358,142,000 after purchasing an additional 1,880,835 shares during the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 4,271 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $155.42, for a total value of $663,798.82. Following the sale, the chief technology officer owned 64,869 shares of the company’s stock, valued at $10,081,939.98. The trade was a 6.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Jefferson Hague sold 1,333 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $139.46, for a total value of $185,900.18. Following the transaction, the director owned 20,132 shares of the company’s stock, valued at approximately $2,807,608.72. This represents a 6.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 13,425 shares of company stock worth $2,046,324 in the last three months. Company insiders own 0.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ICE shares. Morgan Stanley decreased their target price on shares of Intercontinental Exchange from $187.00 to $163.00 and set an “equal weight” rating on the stock in a report on Friday, July 10th. UBS Group cut their price target on shares of Intercontinental Exchange from $205.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, July 7th. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They issued an “outperform” rating and a $190.00 price objective on the stock. Raymond James Financial set a $208.00 price objective on Intercontinental Exchange in a research report on Monday, July 6th. Finally, Barclays cut their target price on Intercontinental Exchange from $201.00 to $180.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Intercontinental Exchange Trading Down 2.2%

Shares of ICE stock opened at $138.50 on Wednesday. Intercontinental Exchange Inc. has a 1-year low of $121.79 and a 1-year high of $189.35. The firm has a market cap of $78.32 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 1.46 and a beta of 0.94. The company has a 50-day moving average of $140.17 and a two-hundred day moving average of $154.40. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.01 and a quick ratio of 1.01.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, April 30th. The financial services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.23 by $0.12. Intercontinental Exchange had a net margin of 30.06% and a return on equity of 14.99%. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the previous year, the firm earned $1.72 EPS. The business’s revenue was up 20.4% on a year-over-year basis. On average, analysts predict that Intercontinental Exchange Inc. will post 8.07 EPS for the current year.

About Intercontinental Exchange

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.