FourThought Financial Partners LLC Takes $304,000 Position in Intercontinental Exchange, Inc. (NYSE:ICE)

FourThought Financial Partners LLC bought a new position in Intercontinental Exchange, Inc. (NYSE:ICE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,037 shares of the financial services provider’s stock, valued at approximately $304,000.

Other hedge funds have also modified their holdings of the company. Sierra Ocean LLC acquired a new position in shares of Intercontinental Exchange in the 4th quarter valued at $25,000. Capital Performance Advisors LLP purchased a new stake in Intercontinental Exchange during the third quarter valued at about $29,000. FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth approximately $31,000. BankPlus Trust Department purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $40,000. Finally, Planning Capital Management Corp raised its holdings in shares of Intercontinental Exchange by 96.7% during the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 147 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the transaction, the general counsel now owns 44,702 shares in the company, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares of the company’s stock, valued at $1,955,212.20. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,368 shares of company stock worth $9,908,492. 1.10% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of ICE opened at $171.25 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $98.40 billion, a PE ratio of 35.83, a PEG ratio of 2.10 and a beta of 1.11. The firm’s 50 day moving average price is $156.07 and its 200 day moving average price is $158.46. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $171.61.

Intercontinental Exchange (NYSE:ICE) last released 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, research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.12%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Wall Street Analyst Weigh In

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