Intercontinental Exchange, Inc. (NYSE:ICE) Position Trimmed by Montag & Caldwell LLC

Montag & Caldwell LLC decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 36.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 128,937 shares of the financial services provider’s stock after selling 74,489 shares during the quarter. Intercontinental Exchange accounts for about 2.9% of Montag & Caldwell LLC’s investment portfolio, making the stock its 17th biggest holding. Montag & Caldwell LLC’s holdings in Intercontinental Exchange were worth $16,559,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in Intercontinental Exchange in the third quarter worth about $25,000. Jones Financial Companies Lllp acquired a new position in Intercontinental Exchange in the 3rd quarter worth about $26,000. Fortitude Family Office LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter valued at about $28,000. Stuart Chaussee & Associates Inc. bought a new position in Intercontinental Exchange in the fourth quarter worth approximately $28,000. Finally, BKM Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter valued at approximately $31,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In other news, CAO James W. Namkung sold 1,182 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at $2,164,763.88. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Intercontinental Exchange news, CFO Warren Gardiner sold 500 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total transaction of $69,415.00. Following the transaction, the chief financial officer now owns 18,326 shares in the company, valued at approximately $2,544,198.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the transaction, the chief accounting officer now directly owns 16,396 shares of the company’s stock, valued at $2,164,763.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,491 shares of company stock worth $21,454,204. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their price target on Intercontinental Exchange from $142.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Raymond James upped their price target on Intercontinental Exchange from $135.00 to $145.00 and gave the stock a “strong-buy” rating in a research report on Friday, January 5th. Bank of America lowered their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Finally, Citigroup increased their price objective on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Trading Down 0.1 %

ICE stock traded down $0.12 during midday trading on Monday, hitting $131.58. 371,896 shares of the company’s stock were exchanged, compared to its average volume of 2,361,375. The stock has a market capitalization of $75.35 billion, a PE ratio of 31.36, a P/E/G ratio of 2.15 and a beta of 1.02. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The business has a 50-day simple moving average of $135.86 and a two-hundred day simple moving average of $125.38. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The business’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 posted $1.25 EPS. On average, sell-side analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

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

About Intercontinental Exchange

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.