FourThought Financial LLC Has $254,000 Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

FourThought Financial LLC lessened its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE – Get Rating) by 28.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,815 shares of the financial services provider’s stock after selling 1,138 shares during the quarter. FourThought Financial LLC’s holdings in Intercontinental Exchange were worth $254,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cowa LLC acquired a new stake in Intercontinental Exchange during the 3rd quarter worth about $27,000. IMA Wealth Inc. acquired a new stake in Intercontinental Exchange during the 2nd quarter worth about $28,000. WASHINGTON TRUST Co raised its holdings in Intercontinental Exchange by 173.9% during the 3rd quarter. WASHINGTON TRUST Co now owns 315 shares of the financial services provider’s stock worth $28,000 after buying an additional 200 shares during the period. Evoke Wealth LLC raised its holdings in Intercontinental Exchange by 53.8% during the 3rd quarter. Evoke Wealth LLC now owns 346 shares of the financial services provider’s stock worth $31,000 after buying an additional 121 shares during the period. Finally, Old North State Trust LLC purchased a new position in Intercontinental Exchange during the 3rd quarter valued at about $38,000. Institutional investors and hedge funds own 87.28% of the company’s stock.

Insiders Place Their Bets

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 81,827 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the completion of the sale, the chief executive officer now owns 1,203,104 shares of the company’s stock, valued at $125,146,878.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jeffrey C. Sprecher sold 81,827 shares of the company’s stock in a transaction that occurred on Wednesday, February 22nd. The stock was sold at an average price of $104.02, for a total transaction of $8,511,644.54. Following the completion of the transaction, the chief executive officer now directly owns 1,203,104 shares in the company, valued at $125,146,878.08. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas Foley sold 1,600 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $104.80, for a total value of $167,680.00. Following the transaction, the senior vice president now owns 21,481 shares of the company’s stock, valued at $2,251,208.80. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Raymond James lowered their target price on Intercontinental Exchange from $130.00 to $126.00 and set a “strong-buy” rating on the stock in a research note on Friday, February 3rd. Bank of America raised Intercontinental Exchange from a “neutral” rating to a “buy” rating and lifted their target price for the company from $116.00 to $132.00 in a research note on Thursday, November 17th. Morgan Stanley lifted their target price on Intercontinental Exchange from $116.00 to $120.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 11th. Citigroup lifted their target price on Intercontinental Exchange from $110.00 to $117.00 and gave the company a “neutral” rating in a research note on Friday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Intercontinental Exchange from $134.00 to $131.00 in a research note on Wednesday, January 11th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Intercontinental Exchange presently has a consensus rating of “Moderate Buy” and an average target price of $129.91.

Intercontinental Exchange Stock Up 2.2 %

Shares of Intercontinental Exchange stock opened at $99.23 on Friday. The stock has a market capitalization of $55.45 billion, a P/E ratio of 38.61, a PEG ratio of 3.35 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $105.39 and a two-hundred day moving average price of $101.47. Intercontinental Exchange, Inc. has a 12-month low of $88.60 and a 12-month high of $137.40.

Intercontinental Exchange (NYSE:ICE – Get Rating) last announced its earnings results on Thursday, February 2nd. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.01). The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.78 billion. Intercontinental Exchange had a return on equity of 13.11% and a net margin of 15.01%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 EPS. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.4 earnings per share for the current year.

Intercontinental Exchange Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $1.68 dividend on an annualized basis and a yield of 1.69%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.38. Intercontinental Exchange’s dividend payout ratio is presently 59.14%.

Intercontinental Exchange Profile

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Intercontinental Exchange, Inc engages in the provision of market infrastructure, data services and technology solutions. It operates through the following segments: Exchanges, Fixed Income and Data Services, and Mortgage Technology. The Exchanges segment includes trading and listing revenue from the global futures network, the New York Stock Exchange and other registered securities exchanges.