TCW Group Inc. Lowers Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

TCW Group Inc. cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 690,845 shares of the financial services provider’s stock after selling 12,399 shares during the quarter. TCW Group Inc.’s holdings in Intercontinental Exchange were worth $102,943,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Management Professionals Inc. boosted its holdings in Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock worth $27,000 after buying an additional 87 shares in the last quarter. Sierra Ocean LLC purchased a new position in Intercontinental Exchange during the fourth quarter valued at $25,000. Capital Performance Advisors LLP purchased a new position in Intercontinental Exchange during the third quarter valued at $29,000. FSA Wealth Management LLC purchased a new position in Intercontinental Exchange during the third quarter valued at $31,000. Finally, Planning Capital Management Corp lifted its holdings in 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 purchasing an additional 147 shares in the last quarter. 89.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the sale, the president now directly owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Andrew J. Surdykowski sold 955 shares of Intercontinental Exchange stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total transaction of $149,056.40. Following the sale, the general counsel now owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,196 shares of company stock worth $10,840,972. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ICE shares. StockNews.com raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Barclays increased their price objective on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a report on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $168.04 on Friday. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $169.78. The stock has a market cap of $96.55 billion, a P/E ratio of 35.15, a PEG ratio of 2.10 and a beta of 1.11. The company has a 50-day moving average price of $155.42 and a 200 day moving average price of $158.18. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 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. Investors 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 1.14%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is currently 37.66%.

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.