Wellington Management Group LLP Reduces Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Wellington Management Group LLP trimmed its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 17.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,777,982 shares of the financial services provider’s stock after selling 575,518 shares during the period. Wellington Management Group LLP owned approximately 0.48% of Intercontinental Exchange worth $413,947,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth $1,196,258,000. Janus Henderson Group PLC lifted its stake in shares of Intercontinental Exchange by 326.3% in the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock worth $726,196,000 after purchasing an additional 3,460,096 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $406,728,000. Swedbank AB grew its position in Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock valued at $330,171,000 after buying an additional 2,123,185 shares during the period. Finally, AMF Tjanstepension AB grew its position in Intercontinental Exchange by 1,237.7% during the fourth quarter. AMF Tjanstepension AB now owns 1,701,585 shares of the financial services provider’s stock valued at $253,591,000 after buying an additional 1,574,386 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Price Performance

ICE stock opened at $172.51 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The company’s fifty day moving average price is $167.59 and its 200-day moving average price is $160.65. Intercontinental Exchange, Inc. has a one year low of $124.34 and a one year high of $177.45. The company has a market capitalization of $99.12 billion, a PE ratio of 36.09, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last announced 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%. On average, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is presently 40.17%.

Insiders Place Their Bets

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 6,834 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $166.99, for a total value of $1,141,209.66. Following the completion of the transaction, the insider now directly owns 17,972 shares of the company’s stock, valued at $3,001,144.28. This trade represents a 27.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Benjamin Jackson sold 17,104 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the sale, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,563 shares of company stock valued at $10,998,990 in the last quarter. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ICE shares. JPMorgan Chase & Co. cut their price objective 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. UBS Group boosted their price target on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Barclays upped their price target on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange 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.