Yousif Capital Management LLC Decreases Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Yousif Capital Management LLC cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,013 shares of the financial services provider’s stock after selling 1,619 shares during the quarter. Yousif Capital Management LLC’s holdings in Intercontinental Exchange were worth $10,918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ICE. Ritholtz Wealth Management raised its stake in Intercontinental Exchange by 52.8% during the third quarter. Ritholtz Wealth Management now owns 4,722 shares of the financial services provider’s stock worth $519,000 after purchasing an additional 1,631 shares during the period. Flagship Harbor Advisors LLC raised its stake in shares of Intercontinental Exchange by 17.9% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,941 shares of the financial services provider’s stock valued at $324,000 after acquiring an additional 447 shares during the period. Integrated Investment Consultants LLC raised its stake in shares of Intercontinental Exchange by 28.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 2,635 shares of the financial services provider’s stock valued at $290,000 after acquiring an additional 588 shares during the period. GHP Investment Advisors Inc. raised its stake in shares of Intercontinental Exchange by 0.4% in the 3rd quarter. GHP Investment Advisors Inc. now owns 30,626 shares of the financial services provider’s stock valued at $3,382,000 after acquiring an additional 108 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at approximately $203,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, CFO Warren Gardiner sold 500 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now directly owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Judith A. Sprieser sold 2,238 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $137.36, for a total value of $307,411.68. Following the sale, the director now directly owns 29,347 shares of the company’s stock, valued at $4,031,103.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Warren Gardiner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $138.83, for a total transaction of $69,415.00. Following the completion of the sale, the chief financial officer now directly owns 18,326 shares in the company, valued at $2,544,198.58. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. Insiders own 1.10% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock traded up $0.24 during trading hours on Wednesday, reaching $132.57. 2,398,423 shares of the stock were exchanged, compared to its average volume of 2,376,967. The stock has a market cap of $75.91 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.15 and a beta of 1.02. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.00. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The firm’s 50 day moving average is $136.16 and its 200 day moving average is $124.95.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.25 EPS. Analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.36%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s dividend payout ratio is presently 42.86%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ICE. Bank of America reduced their price target on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Citigroup upped their target price on shares of Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research note on Thursday, April 4th. Rosenblatt Securities upped their target price on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Piper Sandler upped their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.08.

Intercontinental Exchange Company 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.