Cary Street Partners Financial LLC Sells 3,444 Shares of Intercontinental Exchange Inc. $ICE

Cary Street Partners Financial LLC reduced its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 59.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,310 shares of the financial services provider’s stock after selling 3,444 shares during the period. Cary Street Partners Financial LLC’s holdings in Intercontinental Exchange were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ICE. Bradley Foster & Sargent Inc. CT grew its position in Intercontinental Exchange by 0.6% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 365,620 shares of the financial services provider’s stock valued at $61,600,000 after acquiring an additional 2,262 shares during the period. Mount Lucas Management LP lifted its holdings in shares of Intercontinental Exchange by 3.2% during the third quarter. Mount Lucas Management LP now owns 7,859 shares of the financial services provider’s stock valued at $1,324,000 after acquiring an additional 243 shares during the period. Parr Mcknight Wealth Management Group LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $2,119,000. Mufg Securities Americas Inc. grew its holdings in shares of Intercontinental Exchange by 21.4% in the 3rd quarter. Mufg Securities Americas Inc. now owns 15,436 shares of the financial services provider’s stock worth $2,601,000 after purchasing an additional 2,723 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of Intercontinental Exchange during the 3rd quarter worth about $345,000. 89.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the company an “equal weight” rating in a research report on Tuesday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 target price (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Royal Bank Of Canada reissued an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. UBS Group reaffirmed a “buy” rating and set a $200.00 price target on shares of Intercontinental Exchange in a report on Monday, February 9th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Intercontinental Exchange currently has a consensus rating of “Buy” and a consensus price target of $195.40.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer owned 1,651,705 shares in the company, valued at approximately $256,014,275. This trade represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Benjamin Jackson sold 12,861 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $165.00, for a total value of $2,122,065.00. Following the transaction, the president owned 165,692 shares of the company’s stock, valued at $27,339,180. The trade was a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 354,492 shares of company stock valued at $55,139,102. Corporate insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Up 0.7%

Shares of NYSE:ICE opened at $164.05 on Monday. 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 stock has a market cap of $93.17 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 1.71 and a beta of 1.04. The company has a 50 day moving average of $164.47 and a 200-day moving average of $163.31. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio is currently 33.28%.

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.