Intercontinental Exchange, Inc. (NYSE:ICE) Stock Position Reduced by 44 Wealth Management LLC

44 Wealth Management LLC cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,432 shares of the financial services provider’s stock after selling 569 shares during the period. 44 Wealth Management LLC’s holdings in Intercontinental Exchange were worth $1,256,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ICE. Quintet Private Bank Europe S.A. boosted its stake in shares of Intercontinental Exchange by 13.8% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 511 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 62 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in Intercontinental Exchange by 4.0% in the third quarter. Integrated Advisors Network LLC now owns 1,714 shares of the financial services provider’s stock valued at $275,000 after acquiring an additional 66 shares during the period. Strategic Advisors LLC increased its position in Intercontinental Exchange by 5.1% in the fourth quarter. Strategic Advisors LLC now owns 1,349 shares of the financial services provider’s stock worth $201,000 after buying an additional 66 shares in the last quarter. Commons Capital LLC lifted its position in shares of Intercontinental Exchange by 1.2% in the fourth quarter. Commons Capital LLC now owns 5,949 shares of the financial services provider’s stock valued at $886,000 after acquiring an additional 69 shares in the last quarter. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of Intercontinental Exchange by 6.2% in the third quarter. Catalyst Capital Advisors LLC now owns 1,197 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $168.04 on Friday. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $169.78. The stock has a market capitalization of $96.55 billion, a price-to-earnings ratio of 35.15, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99. The business’s fifty day moving average price is $155.42 and its two-hundred day moving average price is $158.13.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 37.66%.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the sale, the president now owns 155,174 shares in the company, valued at approximately $25,855,091.88. This trade represents a 9.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 10,580 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the sale, the senior vice president now owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,196 shares of company stock valued at $10,840,972 over the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ICE shares. Deutsche Bank Aktiengesellschaft raised their price target on Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price objective on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

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.