Transcend Capital Advisors LLC Sells 168 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Transcend Capital Advisors LLC reduced its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 14,538 shares of the financial services provider’s stock after selling 168 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $1,867,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $26,000. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange during the 3rd quarter valued at about $25,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $31,000. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ICE shares. Rosenblatt Securities lifted their price objective on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 price objective on shares of Intercontinental Exchange in a research report on Thursday, April 4th. Morgan Stanley lifted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. Citigroup lifted their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Finally, Raymond James lifted their price objective on Intercontinental Exchange from $135.00 to $145.00 and gave the company a “strong-buy” rating in a research report on Friday, January 5th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Price Performance

NYSE ICE traded down $0.12 during trading hours on Friday, reaching $131.70. The company’s stock had a trading volume of 2,406,708 shares, compared to its average volume of 2,148,893. The firm’s 50-day moving average price is $135.86 and its 200-day moving average price is $125.28. 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 $75.41 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 of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Insider Transactions at Intercontinental Exchange

In other news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the transaction, the president now owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Warren Gardiner sold 500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the transaction, the chief financial officer now directly owns 18,326 shares in the company, valued at approximately $2,544,198.58. The disclosure for this sale can be found here. Insiders have sold 157,491 shares of company stock valued at $21,454,204 in the last ninety days. Corporate 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.