Schechter Investment Advisors LLC Cuts Stake in Intercontinental Exchange, Inc. (NYSE:ICE)

Schechter Investment Advisors LLC reduced its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,823 shares of the financial services provider’s stock after selling 472 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Intercontinental Exchange were worth $868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ICE. Janus Henderson Group PLC boosted its position in shares of Intercontinental Exchange by 326.3% during the 3rd quarter. Janus Henderson Group PLC now owns 4,520,639 shares of the financial services provider’s stock valued at $726,196,000 after acquiring an additional 3,460,096 shares during the last quarter. FMR LLC lifted its position in shares of Intercontinental Exchange by 44.1% during the third quarter. FMR LLC now owns 7,846,421 shares of the financial services provider’s stock worth $1,260,449,000 after purchasing an additional 2,401,630 shares during the last quarter. Swedbank AB lifted its position in shares of Intercontinental Exchange by 2,293.3% during the fourth quarter. Swedbank AB now owns 2,215,767 shares of the financial services provider’s stock worth $330,171,000 after purchasing an additional 2,123,185 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Intercontinental Exchange by 285.9% during the third quarter. Two Sigma Advisers LP now owns 1,756,400 shares of the financial services provider’s stock valued at $282,148,000 after buying an additional 1,301,200 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Intercontinental Exchange by 8.0% during the third quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock valued at $865,455,000 after buying an additional 390,332 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Trading Down 1.9 %

Intercontinental Exchange stock opened at $169.97 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. Intercontinental Exchange, Inc. has a 52 week low of $124.34 and a 52 week high of $175.41. The company has a market capitalization of $97.66 billion, a price-to-earnings ratio of 35.56, a price-to-earnings-growth ratio of 2.10 and a beta of 1.11. The stock has a 50-day moving average price of $158.26 and a 200 day moving average price of $159.03.

Intercontinental Exchange (NYSE:ICE) last released its earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is presently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other news, General Counsel Andrew J. Surdykowski sold 955 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $156.08, for a total value of $149,056.40. Following the completion of the sale, the general counsel now directly owns 44,702 shares in the company, valued at $6,977,088.16. The trade was a 2.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $171.43, for a total value of $1,354,297.00. Following the completion of the sale, the president now owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,268 shares of company stock valued at $11,262,789. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Royal Bank of Canada restated an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Intercontinental Exchange from $160.00 to $163.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.80.

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.