Transcend Capital Advisors LLC Sells 536 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Transcend Capital Advisors LLC cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,915 shares of the financial services provider’s stock after selling 536 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Intercontinental Exchange were worth $2,669,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ICE. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at about $25,000. Financial Management Professionals Inc. increased its stake in shares of Intercontinental Exchange by 106.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 87 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $29,000. FSA Wealth Management LLC bought a new stake in Intercontinental Exchange during the 3rd quarter worth approximately $31,000. Finally, Planning Capital Management Corp increased its stake in Intercontinental Exchange by 96.7% during the 3rd quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 147 shares in the last quarter. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Up 0.0 %

ICE opened at $167.00 on Friday. Intercontinental Exchange, Inc. has a 1-year low of $124.34 and a 1-year high of $169.78. The stock’s fifty day simple moving average is $155.18 and its 200 day simple moving average is $157.99. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $95.95 billion, a PE ratio of 34.94, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last posted 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 6.71 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.15%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 37.66%.

Insiders Place Their Bets

In other Intercontinental Exchange news, SVP Douglas Foley sold 10,580 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Stuart Glen Williams sold 750 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total value of $114,742.50. Following the transaction, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. The trade was a 5.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,196 shares of company stock worth $10,840,972 in the last 90 days. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ICE has been the subject of a number of research reports. JPMorgan Chase & Co. lowered their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. UBS Group increased their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Barclays increased their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average 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.