Chevy Chase Trust Holdings LLC Cuts Position in Intercontinental Exchange Inc. $ICE

Chevy Chase Trust Holdings LLC lowered its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 3.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 293,392 shares of the financial services provider’s stock after selling 11,162 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Intercontinental Exchange worth $49,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ICE. Vanguard Group Inc. increased its stake in Intercontinental Exchange by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after purchasing an additional 745,135 shares in the last quarter. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 64.7% during the third quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Norges Bank purchased a new stake in Intercontinental Exchange during the second quarter worth $1,542,780,000. Capital World Investors grew its holdings in Intercontinental Exchange by 15.2% in the third quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares during the last quarter. Finally, Sands Capital Management LLC increased its position in shares of Intercontinental Exchange by 6.9% in the third quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock valued at $956,506,000 after buying an additional 364,227 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $159.12 on Monday. Intercontinental Exchange Inc. has a 12-month low of $143.17 and a 12-month high of $189.35. The firm has a market cap of $90.36 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. The company’s 50-day moving average is $164.52 and its two-hundred day moving average is $162.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 earnings per share. Research analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is presently 33.28%.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the transaction, the insider directly owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 15,213 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total value of $2,358,319.26. Following the sale, the chief technology officer owned 64,869 shares in the company, valued at $10,055,992.38. This trade represents a 19.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,418 shares of company stock worth $54,196,631 in the last three months. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ICE. TD Cowen restated a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Raymond James Financial reissued a “strong-buy” rating and set a $211.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Royal Bank Of Canada restated an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Finally, Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a research note on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $194.73.

Intercontinental Exchange Company Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.