Schechter Investment Advisors LLC Reduces Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Schechter Investment Advisors LLC trimmed its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,823 shares of the financial services provider’s stock after selling 472 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $868,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Mission Wealth Management LP increased its position in shares of Intercontinental Exchange by 1.5% during the fourth quarter. Mission Wealth Management LP now owns 11,595 shares of the financial services provider’s stock worth $1,728,000 after purchasing an additional 167 shares in the last quarter. Woodley Farra Manion Portfolio Management Inc. grew its holdings in Intercontinental Exchange by 0.3% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 438,234 shares of the financial services provider’s stock valued at $65,301,000 after buying an additional 1,527 shares in the last quarter. Quintet Private Bank Europe S.A. grew its holdings in Intercontinental Exchange by 165.0% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 1,354 shares of the financial services provider’s stock valued at $202,000 after buying an additional 843 shares in the last quarter. LGT Fund Management Co Ltd. grew its holdings in Intercontinental Exchange by 29.8% in the 4th quarter. LGT Fund Management Co Ltd. now owns 60,122 shares of the financial services provider’s stock valued at $8,959,000 after buying an additional 13,795 shares in the last quarter. Finally, LGT Group Foundation grew its holdings in Intercontinental Exchange by 10.5% in the 4th quarter. LGT Group Foundation now owns 428,079 shares of the financial services provider’s stock valued at $63,788,000 after buying an additional 40,790 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intercontinental Exchange news, COO Stuart Glen Williams sold 750 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $152.99, for a total transaction of $114,742.50. Following the sale, the chief operating officer now owns 12,780 shares in the company, valued at $1,955,212.20. This represents a 5.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Andrew J. Surdykowski sold 955 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the sale, the general counsel now owns 44,702 shares in the company, valued at approximately $6,977,088.16. This trade represents a 2.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,268 shares of company stock worth $11,262,789 in the last quarter. 1.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. UBS Group upped their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. Barclays upped their target price on Intercontinental Exchange from $179.00 to $189.00 and gave the company an “overweight” rating in a report on Friday, February 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their target price on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $178.80.

Intercontinental Exchange Price Performance

ICE opened at $169.97 on Wednesday. The stock’s 50-day moving average price is $158.26 and its 200 day moving average price is $159.03. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $175.41. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The firm has a market cap of $97.66 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 2.10 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. As a group, sell-side analysts expect that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.13%. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

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.