Investment House LLC Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Investment House LLC reduced its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.9% during the fourth quarter, HoldingsChannel reports. The firm owned 175,274 shares of the financial services provider’s stock after selling 1,583 shares during the period. Intercontinental Exchange comprises about 1.6% of Investment House LLC’s portfolio, making the stock its 13th biggest holding. Investment House LLC’s holdings in Intercontinental Exchange were worth $22,510,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. OFI Invest Asset Management bought a new position in Intercontinental Exchange during the third quarter valued at approximately $25,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange in the third quarter worth approximately $26,000. Fortitude Family Office LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $28,000. Finally, BKM Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth about $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

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 other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares of the company’s stock, valued at approximately $2,164,763.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the completion of the transaction, the chief financial officer now directly owns 12,061 shares in the company, valued at approximately $1,640,296. 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.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Raymond James boosted their target price on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Morgan Stanley boosted 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. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Price Performance

NYSE ICE traded down $0.15 during trading hours on Monday, reaching $131.55. The company’s stock had a trading volume of 550,473 shares, compared to its average volume of 2,363,679. The firm’s 50-day moving average price is $135.86 and its 200-day moving average price is $125.38. 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 1 year low of $103.81 and a 1 year high of $140.43. The company has a market capitalization of $75.33 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 2.15 and a beta of 1.02.

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. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is 42.86%.

About Intercontinental Exchange

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.