Tounjian Advisory Partners LLC Sells 9,296 Shares of Intercontinental Exchange Inc. $ICE

Tounjian Advisory Partners LLC lessened its position in Intercontinental Exchange Inc. (NYSE:ICE) by 43.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,160 shares of the financial services provider’s stock after selling 9,296 shares during the period. Tounjian Advisory Partners LLC’s holdings in Intercontinental Exchange were worth $1,969,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ICE. Dynasty Wealth Management LLC acquired a new position in shares of Intercontinental Exchange during the third quarter valued at about $897,000. Rockland Trust Co. raised its holdings in shares of Intercontinental Exchange by 19.7% in the 3rd quarter. Rockland Trust Co. now owns 127,652 shares of the financial services provider’s stock worth $21,507,000 after acquiring an additional 20,981 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in shares of Intercontinental Exchange by 37.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 11,920 shares of the financial services provider’s stock worth $2,008,000 after acquiring an additional 3,261 shares during the last quarter. Eastern Bank lifted its position in Intercontinental Exchange by 14.6% in the 3rd quarter. Eastern Bank now owns 203,731 shares of the financial services provider’s stock valued at $34,325,000 after acquiring an additional 25,980 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC lifted its position in Intercontinental Exchange by 1.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 831,758 shares of the financial services provider’s stock valued at $152,603,000 after acquiring an additional 13,497 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In related news, insider Christopher Scott Edmonds sold 11,303 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the transaction, the insider directly owned 14,266 shares of the company’s stock, valued at approximately $2,194,396.12. The trade was a 44.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer owned 64,869 shares of the company’s stock, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 348,418 shares of company stock worth $54,196,631. Company insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

ICE has been the subject of a number of recent research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. UBS Group restated a “buy” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Monday, February 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target for the company in a research report on Friday, March 6th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $194.73.

Intercontinental Exchange Trading Up 0.0%

NYSE:ICE opened at $158.54 on Friday. Intercontinental Exchange Inc. has a 52 week low of $143.17 and a 52 week high of $189.35. The firm has a 50-day moving average price of $164.02 and a two-hundred day moving average price of $161.61. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $90.04 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 1.71 and a beta of 1.03.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.52 EPS. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be given a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s payout ratio is currently 36.05%.

Intercontinental Exchange Profile

Intercontinental Exchange (NYSE: ICE) is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.