Gilliland Jeter Wealth Management LLC Sells 77 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Gilliland Jeter Wealth Management LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,137 shares of the financial services provider’s stock after selling 77 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Intercontinental Exchange were worth $617,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Wolff Wiese Magana LLC lifted its holdings in shares of Intercontinental Exchange by 1,470.0% in the 3rd quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 147 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter worth approximately $26,000. Financial Management Professionals Inc. lifted its holdings 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 worth $27,000 after acquiring an additional 87 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Intercontinental Exchange in the third quarter worth $29,000. Finally, FSA Wealth Management LLC purchased a new position in shares of Intercontinental Exchange in the third quarter worth $31,000. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on ICE. StockNews.com downgraded shares of Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Barclays decreased their target price on shares of Intercontinental Exchange from $187.00 to $179.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Raymond James downgraded shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 price objective on the stock. in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $175.27.

Insider Buying and Selling at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares of the company’s stock, valued at approximately $6,977,088.16. This represents a 2.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 5,828 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now directly owns 156,163 shares of the company’s stock, valued at $24,986,080. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,795 shares of company stock worth $2,120,572. Company insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock opened at $167.37 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $96.10 billion, a price-to-earnings ratio of 39.66, a PEG ratio of 3.06 and a beta of 1.11. The firm’s 50-day moving average is $153.11 and its 200 day moving average is $156.74. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $169.75.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results 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 net margin of 21.31% and a return on equity of 12.75%. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.05 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.15%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.45. Intercontinental Exchange’s dividend payout ratio is currently 42.65%.

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.