Sage Mountain Advisors LLC Cuts Stock Position in Intercontinental Exchange, Inc. (NYSE:ICE)

Sage Mountain Advisors LLC lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,940 shares of the financial services provider’s stock after selling 86 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Intercontinental Exchange were worth $249,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new position in Intercontinental Exchange in the fourth quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at about $26,000. OFI Invest Asset Management purchased a new stake in Intercontinental Exchange in the 3rd quarter valued at about $25,000. BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange in the 4th quarter valued at about $31,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $131.65 on Tuesday. The stock’s 50 day moving average price is $136.20 and its 200 day moving average price is $124.80. The firm has a market capitalization of $75.39 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 2.08 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 one year low of $103.81 and a one year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. Intercontinental Exchange had a return on equity of 12.91% and a net margin of 23.91%. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same period in the prior year, the company posted $1.25 EPS. Intercontinental Exchange’s quarterly revenue was up 24.5% on a year-over-year basis. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 5.98 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.37%. This is a positive change 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 Analyst Weigh In

A number of brokerages have recently issued reports on ICE. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. JPMorgan Chase & Co. boosted their target price on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a report on Thursday, April 4th. Bank of America decreased their target price on Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating for the company in a report on Friday. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. 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 data from MarketBeat.com, Intercontinental Exchange currently has an average rating of “Moderate Buy” and an average price target of $148.08.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, major shareholder Intercontinental Exchange, Inc bought 2,762,009 shares of the business’s stock in a transaction on Monday, March 4th. The shares were bought at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now directly owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Intercontinental Exchange, Inc purchased 2,762,009 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average cost of $0.87 per share, with a total value of $2,402,947.83. Following the transaction, the insider now owns 7,476,345 shares in the company, valued at approximately $6,504,420.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Warren Gardiner sold 2,176 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $136.00, for a total value of $295,936.00. Following the sale, the chief financial officer now directly owns 12,061 shares in the company, valued at $1,640,296. The disclosure for this sale can be found here. Insiders have sold a total of 157,491 shares of company stock valued at $21,454,204 in the last three months. Corporate insiders own 1.10% of the company’s stock.

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.