Tounjian Advisory Partners LLC Sells 5,730 Shares of Intercontinental Exchange Inc. $ICE

Tounjian Advisory Partners LLC lowered its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 21.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,456 shares of the financial services provider’s stock after selling 5,730 shares during the quarter. Intercontinental Exchange makes up approximately 1.2% of Tounjian Advisory Partners LLC’s holdings, making the stock its 17th biggest position. Tounjian Advisory Partners LLC’s holdings in Intercontinental Exchange were worth $3,615,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 1.4% during the second quarter. Vanguard Group Inc. now owns 53,685,491 shares of the financial services provider’s stock valued at $9,849,677,000 after buying an additional 745,135 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intercontinental Exchange by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 12,438,154 shares of the financial services provider’s stock worth $2,270,657,000 after acquiring an additional 145,961 shares during the last quarter. Norges Bank bought a new stake in shares of Intercontinental Exchange during the 2nd quarter valued at $1,542,780,000. Sands Capital Management LLC increased its stake in shares of Intercontinental Exchange by 97.3% in the 2nd quarter. Sands Capital Management LLC now owns 5,313,039 shares of the financial services provider’s stock worth $974,783,000 after purchasing an additional 2,620,310 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Intercontinental Exchange by 3.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,967,071 shares of the financial services provider’s stock worth $836,852,000 after purchasing an additional 148,923 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Trading Up 0.7%

Shares of ICE opened at $164.05 on Friday. The firm has a market capitalization of $93.17 billion, a price-to-earnings ratio of 28.43, a PEG ratio of 1.70 and a beta of 1.02. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35. The company has a 50-day moving average of $164.47 and a 200 day moving average of $163.57.

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

Intercontinental Exchange Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 33.28%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ICE. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Raymond James Financial restated a “strong-buy” rating and set a $211.00 price target on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Barclays set a $193.00 price objective on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Intercontinental Exchange has a consensus rating of “Buy” and an average target price of $195.40.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president directly owned 165,304 shares in the company, valued at approximately $25,412,183.92. This represents a 2.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Warren Gardiner sold 2,490 shares of the stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the transaction, the chief financial officer directly owned 27,679 shares in the company, valued at $4,262,566. The trade was a 8.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 354,492 shares of company stock worth $55,139,102 over the last quarter. Insiders own 1.00% of the company’s stock.

Intercontinental Exchange Company 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.