Van ECK Associates Corp Has $19.09 Million Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Van ECK Associates Corp cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,704 shares of the financial services provider’s stock after selling 1,245 shares during the quarter. Van ECK Associates Corp’s holdings in Intercontinental Exchange were worth $19,092,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. New Millennium Group LLC acquired a new position in shares of Intercontinental Exchange during the 2nd quarter worth approximately $25,000. International Assets Investment Management LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $25,000. Fairscale Capital LLC bought a new stake in Intercontinental Exchange in the 2nd quarter valued at $25,000. Wolff Wiese Magana LLC boosted its stake in Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares during the period. Finally, Northwest Investment Counselors LLC bought a new stake in Intercontinental Exchange in the 3rd quarter valued at $26,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on ICE shares. Barclays cut their target price on Intercontinental Exchange from $179.00 to $173.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup upped their target price on Intercontinental Exchange from $160.00 to $162.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $168.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, August 6th. Morgan Stanley upped their target price on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $173.93.

Intercontinental Exchange Price Performance

Shares of ICE opened at $154.49 on Tuesday. Intercontinental Exchange, Inc. has a 12-month low of $107.40 and a 12-month high of $167.99. The business has a 50-day simple moving average of $161.86 and a two-hundred day simple moving average of $148.61. The company has a quick ratio of 0.99, a current ratio of 1.00 and a debt-to-equity ratio of 0.68. The stock has a market cap of $88.70 billion, a PE ratio of 36.61, a PEG ratio of 2.35 and a beta of 1.08.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same quarter in the prior year, the firm earned $1.46 EPS. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. Analysts anticipate that Intercontinental Exchange, Inc. will post 6.13 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be paid a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.17%. Intercontinental Exchange’s payout ratio is 42.65%.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the completion of the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stuart Glen Williams sold 468 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $162.81, for a total value of $76,195.08. Following the sale, the chief operating officer now owns 13,530 shares in the company, valued at approximately $2,202,819.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,489 shares of company stock valued at $1,202,259. Company insiders own 1.10% of the company’s stock.

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.