Parnassus Investments LLC Trims Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Parnassus Investments LLC cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,273,286 shares of the financial services provider’s stock after selling 565,441 shares during the period. Intercontinental Exchange makes up 2.4% of Parnassus Investments LLC’s holdings, making the stock its 11th biggest holding. Parnassus Investments LLC owned 1.27% of Intercontinental Exchange worth $1,083,792,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its position in shares of Intercontinental Exchange by 6.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 39,921 shares of the financial services provider’s stock valued at $5,949,000 after acquiring an additional 2,469 shares during the last quarter. PGGM Investments increased its position in shares of Intercontinental Exchange by 196.2% during the fourth quarter. PGGM Investments now owns 20,331 shares of the financial services provider’s stock valued at $3,030,000 after acquiring an additional 13,468 shares during the last quarter. Lazard Freres Gestion S.A.S. increased its position in shares of Intercontinental Exchange by 2.8% during the fourth quarter. Lazard Freres Gestion S.A.S. now owns 475,033 shares of the financial services provider’s stock valued at $70,784,000 after acquiring an additional 12,842 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of Intercontinental Exchange by 135.3% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 265,980 shares of the financial services provider’s stock valued at $39,729,000 after acquiring an additional 152,943 shares during the last quarter. Finally, Erste Asset Management GmbH increased its position in shares of Intercontinental Exchange by 16.8% during the fourth quarter. Erste Asset Management GmbH now owns 112,242 shares of the financial services provider’s stock valued at $16,781,000 after acquiring an additional 16,117 shares during the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intercontinental Exchange

In other news, insider Christopher Scott Edmonds sold 601 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $147.73, for a total transaction of $88,785.73. Following the completion of the sale, the insider now owns 12,922 shares in the company, valued at approximately $1,908,967.06. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Stuart Glen Williams sold 750 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,313 shares of company stock worth $11,113,733. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays lifted their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, UBS Group lifted their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Intercontinental Exchange currently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Trading Up 0.0 %

NYSE ICE opened at $169.06 on Friday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $175.41. The stock has a market capitalization of $97.13 billion, a PE ratio of 35.37, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. The firm has a 50 day moving average of $161.04 and a two-hundred day moving average of $159.57.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 annualized dividend and a dividend yield of 1.14%. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Intercontinental Exchange Company Profile

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.