Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Meitav Investment House Ltd.

Meitav Investment House Ltd. lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 75.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,409 shares of the financial services provider’s stock after selling 7,605 shares during the quarter. Meitav Investment House Ltd.’s holdings in Intercontinental Exchange were worth $359,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Sierra Ocean LLC acquired a new stake in Intercontinental Exchange in the fourth quarter valued at about $25,000. Financial Management Professionals Inc. raised its stake in shares of Intercontinental Exchange by 106.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange during the 3rd quarter worth approximately $29,000. FSA Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $31,000. Finally, Planning Capital Management Corp boosted its stake in shares of Intercontinental Exchange by 96.7% in the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after buying an additional 147 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $167.00 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 fifty-two week low of $124.34 and a fifty-two week high of $169.78. The business has a fifty day moving average of $155.18 and a 200-day moving average of $157.99. The stock has a market cap of $95.95 billion, a price-to-earnings ratio of 34.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.71 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 37.66%.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 5,828 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the sale, the president now owns 156,163 shares in the company, valued at $24,986,080. This trade represents a 3.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the insider now directly owns 17,972 shares of the company’s stock, valued at approximately $3,001,144.28. This represents a 27.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,196 shares of company stock worth $10,840,972. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ICE shares. JPMorgan Chase & Co. cut their price objective on 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 issued a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Barclays upped their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Finally, StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

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.