Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by RB Capital Management LLC

RB Capital Management LLC cut its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,119 shares of the financial services provider’s stock after selling 209 shares during the period. RB Capital Management LLC’s holdings in Intercontinental Exchange were worth $657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Berry Wealth Group LP purchased a new position in Intercontinental Exchange during the fourth quarter worth approximately $454,000. Hexagon Capital Partners LLC grew its stake in Intercontinental Exchange by 180.3% during the 4th quarter. Hexagon Capital Partners LLC now owns 541 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 348 shares in the last quarter. Savant Capital LLC grew its stake in Intercontinental Exchange by 29.0% during the 4th quarter. Savant Capital LLC now owns 8,957 shares of the financial services provider’s stock worth $1,150,000 after purchasing an additional 2,011 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in Intercontinental Exchange by 6.8% during the 4th quarter. Alpha Cubed Investments LLC now owns 85,914 shares of the financial services provider’s stock worth $11,034,000 after purchasing an additional 5,433 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in Intercontinental Exchange by 5.5% during the 4th quarter. Brighton Jones LLC now owns 3,187 shares of the financial services provider’s stock worth $409,000 after purchasing an additional 165 shares in the last quarter. 89.30% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 341 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $131.74, for a total transaction of $44,923.34. Following the completion of the transaction, the general counsel now directly owns 48,713 shares in the company, valued at approximately $6,417,450.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder Intercontinental Exchange, Inc purchased 350,880 shares of the company’s stock in a transaction that occurred on Thursday, April 25th. The shares were acquired at an average cost of $0.87 per share, with a total value of $305,265.60. Following the transaction, the insider now owns 649,934 shares in the company, valued at approximately $565,442.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Andrew J. Surdykowski sold 341 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $131.74, for a total value of $44,923.34. Following the sale, the general counsel now directly owns 48,713 shares in the company, valued at $6,417,450.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 157,832 shares of company stock valued at $21,499,127. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded down $0.08 on Wednesday, hitting $128.68. The company’s stock had a trading volume of 2,957,796 shares, compared to its average volume of 2,372,393. Intercontinental Exchange, Inc. has a 52-week low of $103.81 and a 52-week high of $140.43. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. The firm has a fifty day moving average price of $135.58 and a 200-day moving average price of $125.65. The company has a market capitalization of $73.68 billion, a P/E ratio of 30.66, a price-to-earnings-growth ratio of 2.14 and a beta of 1.02.

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

Intercontinental Exchange Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Intercontinental Exchange’s previous quarterly dividend of $0.42. Intercontinental Exchange’s dividend payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ICE. Morgan Stanley boosted their target price on Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Barclays boosted their target price on Intercontinental Exchange from $153.00 to $155.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $152.00 target price on shares of Intercontinental Exchange in a research note on Thursday, April 4th. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Finally, UBS Group raised their target price on Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the 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.

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.