Metis Global Partners LLC Decreases Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Metis Global Partners LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 5.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,881 shares of the financial services provider’s stock after selling 1,517 shares during the period. Metis Global Partners LLC’s holdings in Intercontinental Exchange were worth $3,324,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB grew its holdings in Intercontinental Exchange by 27.3% during 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 buying an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. boosted 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 worth $13,956,000 after acquiring an additional 8,320 shares during the last quarter. LGT Group Foundation grew its stake in shares of Intercontinental Exchange by 36.0% during the 4th quarter. LGT Group Foundation now owns 355,555 shares of the financial services provider’s stock valued at $45,724,000 after buying an additional 94,039 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Intercontinental Exchange by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after buying an additional 105,042 shares during the last quarter. Finally, First County Bank CT increased its holdings in shares of Intercontinental Exchange by 2.7% during the 3rd 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 during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.6 %

ICE traded up $0.78 during midday trading on Monday, hitting $131.28. 1,738,904 shares of the company’s stock traded hands, compared to its average volume of 2,418,198. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $75.30 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02. The stock’s fifty day simple moving average is $135.01 and its 200-day simple moving average is $126.02. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.48. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Intercontinental Exchange had a net margin of 24.24% and a return on equity of 12.76%. Intercontinental Exchange’s revenue for the quarter was up 20.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 13th will be paid a dividend of $0.45 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 41.28%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ICE. Keefe, Bruyette & Woods dropped their price target on Intercontinental Exchange from $156.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday. Morgan Stanley increased their price objective on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a report on Friday. Finally, Barclays lowered their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $147.92.

Insider Activity

In other news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 1,182 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 157,832 shares of company stock valued at $21,499,127. Insiders own 1.10% of the company’s stock.

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.