Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC cut its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,949 shares of the financial services provider’s stock after selling 6,844 shares during the period. ARK Investment Management LLC’s holdings in Intercontinental Exchange were worth $10,915,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth about $487,000. Advisory Alpha LLC acquired a new stake in shares of Intercontinental Exchange during the first quarter worth approximately $207,000. Empirical Finance LLC boosted its holdings in shares of Intercontinental Exchange by 11.8% during the first quarter. Empirical Finance LLC now owns 7,978 shares of the financial services provider’s stock worth $1,096,000 after purchasing an additional 844 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Intercontinental Exchange by 23.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 79,960 shares of the financial services provider’s stock worth $10,989,000 after purchasing an additional 14,937 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Intercontinental Exchange during the 1st quarter worth about $2,490,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analysts Set New Price Targets

ICE has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intercontinental Exchange from $169.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, November 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $168.00 target price on shares of Intercontinental Exchange in a report on Tuesday, August 6th. StockNews.com lowered shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research report on Monday, October 21st. Raymond James downgraded Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price target on the stock. in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. boosted their price objective on Intercontinental Exchange from $171.00 to $188.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $173.93.

Intercontinental Exchange Price Performance

Shares of NYSE:ICE opened at $156.11 on Friday. The business’s 50 day moving average is $161.71 and its 200-day moving average is $148.85. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $89.64 billion, a PE ratio of 36.99, a PEG ratio of 2.57 and a beta of 1.08. Intercontinental Exchange, Inc. has a 1-year low of $107.76 and a 1-year high of $167.99.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Intercontinental Exchange had a net margin of 21.31% and a return on equity of 12.75%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.46 earnings per share. The business’s revenue was up 17.3% compared to the same quarter last year. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.09 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend on an annualized basis and a yield of 1.15%. Intercontinental Exchange’s payout ratio is currently 42.65%.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 2,048 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $159.57, for a total value of $326,799.36. Following the sale, the general counsel now directly owns 44,865 shares in the company, valued at approximately $7,159,108.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO James W. Namkung sold 1,171 shares of Intercontinental Exchange stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total transaction of $187,360.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,665 shares of the company’s stock, valued at $2,666,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 directly owns 44,865 shares in the company, valued at $7,159,108.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock valued at $1,202,259 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

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.