Tounjian Advisory Partners LLC Sells 9,296 Shares of Intercontinental Exchange Inc. $ICE

Tounjian Advisory Partners LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 43.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,160 shares of the financial services provider’s stock after selling 9,296 shares during the period. Tounjian Advisory Partners LLC’s holdings in Intercontinental Exchange were worth $1,969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cyndeo Wealth Partners LLC grew its stake in shares of Intercontinental Exchange by 857.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 11,655 shares of the financial services provider’s stock worth $1,888,000 after purchasing an additional 10,438 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Intercontinental Exchange by 20.7% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 24,283 shares of the financial services provider’s stock worth $3,933,000 after purchasing an additional 4,172 shares during the last quarter. Brady Family Wealth LLC raised its position in Intercontinental Exchange by 22.5% during the 4th quarter. Brady Family Wealth LLC now owns 2,513 shares of the financial services provider’s stock worth $407,000 after purchasing an additional 461 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings in Intercontinental Exchange by 18.1% during the 4th quarter. Harbor Investment Advisory LLC now owns 1,513 shares of the financial services provider’s stock worth $245,000 after buying an additional 232 shares during the period. Finally, Aventura Private Wealth LLC acquired a new position in Intercontinental Exchange during the 4th quarter worth about $98,000. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Intercontinental Exchange Stock Up 0.0%

Shares of NYSE:ICE opened at $158.54 on Friday. Intercontinental Exchange Inc. has a 1 year low of $143.17 and a 1 year high of $189.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average is $164.02 and its 200-day moving average is $161.61. The company has a market capitalization of $90.04 billion, a price-to-earnings ratio of 27.48, a P/E/G ratio of 1.71 and a beta of 1.03.

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

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. Intercontinental Exchange’s dividend payout ratio (DPR) is 36.05%.

Wall Street Analysts Forecast Growth

ICE has been the subject of several recent research reports. Piper Sandler reissued an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a research note on Friday, March 6th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the company an “overweight” rating in a report on Friday, February 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $194.73.

Insider Activity at Intercontinental Exchange

In related news, General Counsel Andrew J. Surdykowski sold 4,571 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $162.00, for a total transaction of $740,502.00. Following the transaction, the general counsel directly owned 48,181 shares of the company’s stock, valued at $7,805,322. This represents a 8.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Warren Gardiner sold 2,490 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total transaction of $383,460.00. Following the completion of the sale, the chief financial officer owned 27,679 shares of the company’s stock, valued at $4,262,566. The trade was a 8.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 348,418 shares of company stock worth $54,196,631. Corporate insiders own 1.00% of the company’s stock.

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.