Sfmg LLC Sells 558 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sfmg LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 18.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,415 shares of the financial services provider’s stock after selling 558 shares during the quarter. Sfmg LLC’s holdings in Intercontinental Exchange were worth $310,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Nordea Investment Management AB raised its holdings in Intercontinental Exchange by 27.3% during the 4th quarter. Nordea Investment Management AB now owns 56,870 shares of the financial services provider’s stock worth $7,311,000 after purchasing an additional 12,208 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in Intercontinental Exchange by 7.0% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 126,854 shares of the financial services provider’s stock worth $13,956,000 after acquiring an additional 8,320 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Intercontinental Exchange by 9.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,235,985 shares of the financial services provider’s stock worth $158,738,000 after acquiring an additional 105,042 shares during the last quarter. First County Bank CT boosted its position in Intercontinental Exchange by 2.7% during the 3rd quarter. First County Bank CT now owns 3,811 shares of the financial services provider’s stock worth $419,000 after acquiring an additional 100 shares during the last quarter. Finally, CIC Wealth LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $221,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $130.74 on Thursday. The stock’s 50-day simple moving average is $136.42 and its 200 day simple moving average is $124.22. The firm has a market capitalization of $74.86 billion, a PE ratio of 31.13, a price-to-earnings-growth ratio of 2.06 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same period last year, the firm posted $1.25 earnings per share. On average, analysts anticipate that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. The ex-dividend date was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. This represents a $1.80 annualized dividend and a yield of 1.38%. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 42.86%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the transaction, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the stock in a transaction on Monday, March 4th. The stock was acquired at an average cost of $0.87 per share, for a total transaction of $2,402,947.83. Following the completion of the acquisition, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total value of $69,415.00. Following the completion of the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at $2,544,198.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 157,491 shares of company stock worth $21,454,204. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ICE shares. Raymond James upped their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research note on Friday, January 5th. Morgan Stanley increased their price target 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. JPMorgan Chase & Co. increased their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Piper Sandler increased their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $152.00 price target on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $147.08.

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.