Tower Bridge Advisors Sells 183 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Tower Bridge Advisors trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,470 shares of the financial services provider’s stock after selling 183 shares during the period. Tower Bridge Advisors’ holdings in Intercontinental Exchange were worth $5,732,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Sierra Ocean LLC bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $25,000. Capital Performance Advisors LLP bought a new stake in Intercontinental Exchange during the third quarter valued at about $29,000. FSA Wealth Management LLC bought a new stake in Intercontinental Exchange during the third quarter valued at about $31,000. BankPlus Trust Department bought a new stake in Intercontinental Exchange during the fourth quarter valued at about $40,000. Finally, Planning Capital Management Corp lifted its stake in shares of Intercontinental Exchange by 96.7% in the third quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock valued at $48,000 after buying an additional 147 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 955 shares of the firm’s 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 owns 44,702 shares of the company’s stock, valued at $6,977,088.16. This trade represents a 2.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 17,104 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $25,855,091.88. This represents a 9.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,268 shares of company stock valued at $11,262,789 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ICE. Barclays increased their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $173.21 on Friday. The firm has a market cap of $99.52 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.10 and a beta of 1.11. The company has a 50 day moving average of $157.41 and a 200-day moving average of $158.76. 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, Inc. has a 1-year low of $124.34 and a 1-year high of $173.54.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share 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%. On average, equities analysts forecast that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

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.