Intercontinental Exchange Inc (ICE) Position Cut by Clearbridge LLC

Clearbridge LLC cut its position in shares of Intercontinental Exchange Inc (NYSE:ICE) by 3.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 127,552 shares of the financial services provider’s stock after selling 4,142 shares during the quarter. Intercontinental Exchange accounts for 2.9% of Clearbridge LLC’s investment portfolio, making the stock its 10th biggest holding. Clearbridge LLC’s holdings in Intercontinental Exchange were worth $9,608,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Intercontinental Wealth Advisors LLC acquired a new position in shares of Intercontinental Exchange in the fourth quarter worth $25,000. Gradient Investments LLC grew its position in shares of Intercontinental Exchange by 432.8% in the fourth quarter. Gradient Investments LLC now owns 357 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 290 shares during the period. Ruggie Capital Group purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $29,000. Moody National Bank Trust Division purchased a new stake in shares of Intercontinental Exchange in the fourth quarter valued at $30,000. Finally, Whittier Trust Co. of Nevada Inc. grew its position in shares of Intercontinental Exchange by 46.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 460 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 145 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

In other Intercontinental Exchange news, President Benjamin Jackson sold 4,854 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $74.94, for a total transaction of $363,758.76. Following the completion of the sale, the president now owns 79,717 shares of the company’s stock, valued at $5,973,991.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 92,502 shares of the business’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $74.33, for a total value of $6,875,673.66. Following the sale, the chief executive officer now directly owns 1,553,471 shares of the company’s stock, valued at approximately $115,469,499.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 194,856 shares of company stock valued at $14,693,582. 1.50% of the stock is owned by company insiders.

ICE stock opened at $73.89 on Friday. Intercontinental Exchange Inc has a 12-month low of $67.70 and a 12-month high of $82.65. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.38. The stock has a market cap of $42.10 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.01 and a beta of 0.48.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings results on Thursday, February 7th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. Intercontinental Exchange had a return on equity of 12.23% and a net margin of 31.68%. The firm had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the business earned $0.73 earnings per share. The firm’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, research analysts anticipate that Intercontinental Exchange Inc will post 3.82 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend is Friday, September 13th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 26.74%.

A number of brokerages have recently commented on ICE. ValuEngine downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $85.50 price objective on shares of Intercontinental Exchange in a research report on Monday, February 11th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Intercontinental Exchange in a research report on Thursday, February 7th. Citigroup raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and set a $75.63 price objective for the company in a research report on Tuesday, January 22nd. Finally, Zacks Investment Research downgraded Intercontinental Exchange from a “buy” rating to a “hold” rating in a research report on Monday, January 14th. Four research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Intercontinental Exchange has an average rating of “Buy” and a consensus price target of $85.78.

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Intercontinental Exchange Profile

Intercontinental Exchange, Inc operates regulated exchanges, clearing houses, and listings venues for financial and commodity markets in the United States, the United Kingdom, Continental Europe, Asia, Israel, and Canada. It operates through two segments, Trading and Clearing; and Data and Listings. The company operates marketplaces for listing, trading, and clearing an array of derivatives and securities contracts across various asset classes, including energy and agricultural commodities, interest rates, equities, equity and credit derivatives, exchange traded funds, bonds, and currencies.

Read More: Cost of Debt

Institutional Ownership by Quarter for Intercontinental Exchange (NYSE:ICE)

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