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

Transcend Capital Advisors LLC lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ICE. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $25,000. Jones Financial Companies Lllp bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $26,000. Fortitude Family Office LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Finally, BKM Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc acquired 2,762,009 shares of the company’s stock in a transaction on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the completion of the acquisition, the insider now directly owns 7,476,345 shares in the company, valued at $6,504,420.15. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 1,182 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 over the last three months. 1.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ICE. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. lifted their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Rosenblatt Securities lifted their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, Citigroup lifted their price target on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 4th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Intercontinental Exchange Stock Performance

ICE traded down $0.12 during trading on Friday, hitting $131.70. 2,406,708 shares of the company traded hands, compared to its average volume of 2,148,893. The firm has a market cap of $75.41 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 2.15 and a beta of 1.02. The stock’s fifty day moving average is $135.86 and its 200 day moving average 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 one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The firm’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. As a group, equities analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

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

Intercontinental Exchange 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.