Westwood Holdings Group Inc. Sells 5,306 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Westwood Holdings Group Inc. cut its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,769 shares of the financial services provider’s stock after selling 5,306 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Intercontinental Exchange were worth $7,267,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Twinbeech Capital LP increased its holdings in shares of Intercontinental Exchange by 3,304.1% in the fourth quarter. Twinbeech Capital LP now owns 181,133 shares of the financial services provider’s stock worth $26,991,000 after purchasing an additional 175,812 shares during the last quarter. Texas Bank & Trust Co bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $478,000. Teza Capital Management LLC increased its holdings in shares of Intercontinental Exchange by 75.2% in the fourth quarter. Teza Capital Management LLC now owns 26,130 shares of the financial services provider’s stock worth $3,894,000 after purchasing an additional 11,217 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of Intercontinental Exchange by 126.3% in the fourth quarter. Tidal Investments LLC now owns 222,873 shares of the financial services provider’s stock worth $33,210,000 after purchasing an additional 124,391 shares during the last quarter. Finally, Tolleson Wealth Management Inc. bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth about $207,000. 89.30% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ICE. UBS Group lifted their target price on Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Morgan Stanley lifted their price target on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Barclays lifted their price target on Intercontinental Exchange from $189.00 to $198.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $185.93.

Insider Buying and Selling at Intercontinental Exchange

In related news, Director Judith A. Sprieser sold 2,630 shares of the business’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $159.00, for a total value of $418,170.00. Following the completion of the transaction, the director now owns 21,364 shares of the company’s stock, valued at $3,396,876. The trade was a 10.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 7,900 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total transaction of $1,354,297.00. Following the completion of the transaction, the president now directly owns 147,274 shares of the company’s stock, valued at $25,247,181.82. This trade represents a 5.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,634 shares of company stock worth $4,622,335 over the last 90 days. Company insiders own 1.00% of the company’s stock.

Intercontinental Exchange Stock Down 0.3%

Shares of NYSE:ICE opened at $176.21 on Wednesday. Intercontinental Exchange, Inc. has a 1 year low of $131.79 and a 1 year high of $180.15. The business has a 50 day simple moving average of $167.60 and a two-hundred day simple moving average of $161.52. The firm has a market capitalization of $101.08 billion, a PE ratio of 36.86, a price-to-earnings-growth ratio of 2.10 and a beta of 1.12. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. The business had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.44 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.09%. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 39.75%.

Intercontinental Exchange 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.