Forte Capital LLC ADV Sells 290 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Forte Capital LLC ADV cut its position in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,127 shares of the financial services provider’s stock after selling 290 shares during the period. Forte Capital LLC ADV’s holdings in Intercontinental Exchange were worth $1,429,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $28,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter valued at $28,000. Jones Financial Companies Lllp bought a new position in shares of Intercontinental Exchange in the 3rd quarter worth $26,000. OFI Invest Asset Management bought a new stake in Intercontinental Exchange during the third quarter valued at about $25,000. Finally, BKM Wealth Management LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $31,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Douglas Foley sold 7,070 shares of Intercontinental Exchange stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $136.09, for a total value of $962,156.30. Following the sale, the senior vice president now directly owns 18,383 shares in the company, valued at approximately $2,501,742.47. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, President Benjamin Jackson sold 27,970 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $134.74, for a total transaction of $3,768,677.80. Following the transaction, the president now directly owns 138,487 shares in the company, valued at $18,659,738.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas Foley sold 7,070 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $136.09, for a total transaction of $962,156.30. Following the completion of the sale, the senior vice president now owns 18,383 shares of the company’s stock, valued at approximately $2,501,742.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 157,832 shares of company stock worth $21,499,127. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

ICE has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Intercontinental Exchange from $147.00 to $151.00 and gave the company an “overweight” rating in a research report on Friday. Citigroup boosted their target price on Intercontinental Exchange from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, April 4th. Barclays decreased their price target on Intercontinental Exchange from $155.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. Morgan Stanley boosted their price target 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. Finally, Bank of America cut their price objective on shares of Intercontinental Exchange from $156.00 to $153.00 and set a “buy” rating on the stock in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $147.92.

Intercontinental Exchange Price Performance

Shares of Intercontinental Exchange stock traded up $3.96 during trading hours on Friday, reaching $130.50. The stock had a trading volume of 3,991,238 shares, compared to its average volume of 2,404,087. Intercontinental Exchange, Inc. has a twelve month low of $103.81 and a twelve month high of $140.43. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $74.73 billion, a PE ratio of 29.93, a PEG ratio of 2.14 and a beta of 1.02. The stock’s 50 day moving average is $135.01 and its 200 day moving average is $125.81.

Intercontinental Exchange (NYSE:ICE) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $1.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.48. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Intercontinental Exchange had a return on equity of 12.76% and a net margin of 24.24%. Intercontinental Exchange’s quarterly revenue was up 20.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 EPS. Equities analysts expect that Intercontinental Exchange, Inc. will post 5.95 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 13th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, June 13th. Intercontinental Exchange’s payout ratio is presently 41.28%.

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.