Allspring Global Investments Holdings LLC Sells 109,208 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Allspring Global Investments Holdings LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 12.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 772,388 shares of the financial services provider’s stock after selling 109,208 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intercontinental Exchange were worth $115,339,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Wolff Wiese Magana LLC lifted its stake in shares of Intercontinental Exchange by 1,470.0% in the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after buying an additional 147 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $26,000. Financial Management Professionals Inc. lifted its position in Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Intercontinental Exchange during the 3rd quarter valued at about $29,000. Finally, FSA Wealth Management LLC bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $31,000. Institutional investors and hedge funds own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, SVP Douglas Foley sold 10,580 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This trade represents a 32.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher Scott Edmonds sold 601 shares of Intercontinental Exchange 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 transaction, the insider now owns 12,922 shares of the company’s stock, valued at $1,908,967.06. This represents a 4.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock worth $5,535,650 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $166.57 on Thursday. The business’s 50 day simple moving average is $153.74 and its 200 day simple moving average is $157.30. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $169.75. The company has a market cap of $95.64 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.21 and a beta of 1.11. The company has a current ratio of 0.99, a quick ratio of 1.00 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Sell-side analysts forecast that Intercontinental Exchange, Inc. will post 6.63 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend 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 is presently 37.66%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ICE. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley raised their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods increased their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus target price 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.