Montag & Caldwell LLC Lowers Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Montag & Caldwell LLC decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 36.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,937 shares of the financial services provider’s stock after selling 74,489 shares during the period. Intercontinental Exchange comprises approximately 2.9% of Montag & Caldwell LLC’s investment portfolio, making the stock its 17th largest holding. Montag & Caldwell LLC’s holdings in Intercontinental Exchange were worth $16,559,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Intercontinental Exchange in the third quarter valued at approximately $25,000. Jones Financial Companies Lllp purchased a new stake in shares of Intercontinental Exchange in the third quarter worth about $26,000. Fortitude Family Office LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at $28,000. Stuart Chaussee & Associates Inc. bought a new stake in shares of Intercontinental Exchange during the 4th quarter worth $28,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Intercontinental Exchange in the fourth quarter worth $31,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 7,070 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares of the company’s stock, valued at $2,501,742.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total value of $156,059.46. Following the transaction, the chief accounting officer now owns 16,396 shares in the company, valued at approximately $2,164,763.88. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas Foley sold 7,070 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the transaction, the senior vice president now directly owns 18,383 shares in the company, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Insiders sold 157,491 shares of company stock worth $21,454,204 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on ICE shares. Morgan Stanley lifted their price objective on Intercontinental Exchange from $139.00 to $142.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. Citigroup raised their price objective on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Rosenblatt Securities lifted their price target on Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Piper Sandler raised their price objective on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Finally, Barclays lifted their price target on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $148.08.

Intercontinental Exchange Stock Down 0.1 %

Shares of NYSE:ICE traded down $0.12 during trading on Monday, reaching $131.58. The stock had a trading volume of 371,896 shares, compared to its average volume of 2,361,375. The company has a market capitalization of $75.35 billion, a P/E ratio of 31.36, a PEG ratio of 2.15 and a beta of 1.02. Intercontinental Exchange, Inc. has a one year low of $103.81 and a one year high of $140.43. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $135.86 and its 200 day simple moving average is $125.38.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. Intercontinental Exchange’s revenue was up 24.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. As a group, research analysts expect that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s payout ratio is presently 42.86%.

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.