Inspire Advisors LLC Reduces Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Inspire Advisors LLC lowered its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,856 shares of the financial services provider’s stock after selling 70 shares during the quarter. Inspire Advisors LLC’s holdings in Intercontinental Exchange were worth $575,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Intercontinental Exchange by 1.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after buying an additional 366 shares during the period. Kestra Private Wealth Services LLC lifted its stake in shares of Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after purchasing an additional 4,787 shares during the period. M&T Bank Corp lifted its stake in shares of Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after purchasing an additional 11,648 shares during the period. Avantra Family Wealth Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. lifted its stake in shares of Intercontinental Exchange by 9.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock valued at $108,515,000 after purchasing an additional 61,110 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ICE. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. UBS Group raised their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Barclays raised their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange has an average rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Stock Down 0.5 %

Intercontinental Exchange stock opened at $168.34 on Wednesday. The firm has a market cap of $96.72 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 2.10 and a beta of 1.08. The stock has a fifty day simple moving average of $160.24 and a two-hundred day simple moving average of $159.43. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $175.41. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted its 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 return on equity of 12.95% and a net margin of 23.42%. Equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is 40.17%.

Insiders Place Their Bets

In other news, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $147.59, for a total transaction of $835,506.99. Following the transaction, the chief technology officer now owns 66,548 shares in the company, valued at $9,821,819.32. This trade represents a 7.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the completion of the transaction, the chief operating officer now directly owns 12,780 shares in the company, valued at approximately $1,955,212.20. This represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,313 shares of company stock valued at $11,113,733. Insiders own 1.10% of the company’s stock.

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.