Sawgrass Asset Management LLC Sells 669 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sawgrass Asset Management LLC trimmed its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 7.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,467 shares of the financial services provider’s stock after selling 669 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Intercontinental Exchange were worth $1,262,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Wolff Wiese Magana LLC lifted its holdings in shares of Intercontinental Exchange by 1,470.0% during the third quarter. Wolff Wiese Magana LLC now owns 157 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 147 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at $26,000. Financial Management Professionals Inc. lifted its holdings in shares of Intercontinental Exchange by 106.1% during the third quarter. Financial Management Professionals Inc. now owns 169 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 87 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Intercontinental Exchange during the third quarter valued at $29,000. Finally, FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange during the third quarter valued at $31,000. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group upped their price objective on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Morgan Stanley upped their price objective on Intercontinental Exchange from $160.00 to $174.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price target on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.80.

Intercontinental Exchange Trading Down 0.2 %

ICE opened at $166.57 on Thursday. The stock’s fifty day moving average is $153.74 and its two-hundred day moving average is $157.30. The company has a market capitalization of $95.64 billion, a P/E ratio of 34.85, a PEG ratio of 3.21 and a beta of 1.11. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $169.75. The company has a quick ratio of 1.00, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Analysts forecast that Intercontinental Exchange, Inc. will post 6.63 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.15%. Intercontinental Exchange’s payout ratio is 37.66%.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, President Benjamin Jackson sold 5,828 shares of Intercontinental Exchange stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $160.00, for a total transaction of $932,480.00. Following the completion of the sale, the president now owns 156,163 shares of the company’s stock, valued at approximately $24,986,080. The trade was a 3.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 10,580 shares of Intercontinental Exchange stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $166.47, for a total value of $1,761,252.60. Following the sale, the senior vice president now directly owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,358 shares of company stock valued at $5,535,650 in the last quarter. 1.10% of the stock is currently owned by corporate insiders.

About Intercontinental Exchange

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.