OLD National Bancorp IN Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

OLD National Bancorp IN reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 46.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,294 shares of the financial services provider’s stock after selling 5,392 shares during the quarter. OLD National Bancorp IN’s holdings in Intercontinental Exchange were worth $808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Intercontinental Exchange by 2.2% during the third quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock worth $5,162,041,000 after acquiring an additional 1,012,034 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Intercontinental Exchange by 219.8% during the third quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock worth $1,336,371,000 after acquiring an additional 8,348,126 shares in the last quarter. Northern Trust Corp raised its stake in shares of Intercontinental Exchange by 3.9% during the third quarter. Northern Trust Corp now owns 7,567,921 shares of the financial services provider’s stock worth $832,623,000 after acquiring an additional 282,963 shares in the last quarter. Invesco Ltd. raised its stake in shares of Intercontinental Exchange by 21.1% during the third quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock worth $668,231,000 after acquiring an additional 1,058,536 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Intercontinental Exchange by 3.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,847,229 shares of the financial services provider’s stock worth $533,292,000 after acquiring an additional 173,236 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Citigroup boosted their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Raymond James boosted their target price on shares of Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a report on Friday, January 5th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Warren Gardiner sold 2,176 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $136.00, for a total transaction of $295,936.00. Following the sale, the chief financial officer now owns 12,061 shares in the company, valued at approximately $1,640,296. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO James W. Namkung sold 1,182 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,491 shares of company stock worth $21,454,204. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Trading Up 0.5 %

ICE stock opened at $132.35 on Wednesday. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $75.78 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.15 and a beta of 1.02. The business has a 50 day simple moving average of $136.16 and a two-hundred day simple moving average of $124.95.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.25 EPS. Research analysts anticipate that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.36%. The ex-dividend date was Thursday, March 14th. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

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.