Caden Capital Partners LP Sells 7,500 Shares of Intercontinental Exchange Inc. $ICE

Caden Capital Partners LP decreased its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 4.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,892 shares of the financial services provider’s stock after selling 7,500 shares during the period. Intercontinental Exchange makes up 10.6% of Caden Capital Partners LP’s holdings, making the stock its 7th biggest position. Caden Capital Partners LP’s holdings in Intercontinental Exchange were worth $26,096,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Intercontinental Exchange by 1.4% in 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 acquiring an additional 745,135 shares in the last quarter. Wellington Management Group LLP raised its stake in Intercontinental Exchange by 64.7% in the 3rd quarter. Wellington Management Group LLP now owns 10,354,224 shares of the financial services provider’s stock worth $1,744,480,000 after purchasing an additional 4,067,922 shares in the last quarter. Norges Bank acquired a new stake in Intercontinental Exchange in the 2nd quarter worth about $1,542,780,000. Capital World Investors boosted its holdings in Intercontinental Exchange by 15.2% in the 3rd quarter. Capital World Investors now owns 7,028,964 shares of the financial services provider’s stock valued at $1,184,238,000 after purchasing an additional 928,047 shares during the period. Finally, Sands Capital Management LLC boosted its holdings in Intercontinental Exchange by 6.9% in the 3rd quarter. Sands Capital Management LLC now owns 5,677,266 shares of the financial services provider’s stock valued at $956,506,000 after purchasing an additional 364,227 shares during the period. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a report on Tuesday, February 10th. Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Barclays set a $193.00 price target on Intercontinental Exchange and gave the stock an “overweight” rating in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, UBS Group reiterated a “buy” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $194.73.

Intercontinental Exchange Price Performance

ICE stock opened at $159.12 on Friday. The company’s 50-day moving average price is $164.52 and its two-hundred day moving average price is $162.21. The firm has a market cap of $90.36 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.72 and a beta of 1.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

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

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange’s dividend payout ratio is presently 36.05%.

Insider Transactions at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the company’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $162.00, for a total transaction of $740,502.00. Following the completion of the sale, the general counsel directly owned 48,181 shares in the company, valued at $7,805,322. This represents a 8.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 3,865 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were 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 $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is owned by insiders.

About Intercontinental Exchange

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.