FourThought Financial Partners LLC Sells 238 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

FourThought Financial Partners LLC lowered its stake in Intercontinental Exchange Inc. (NYSE:ICE) by 11.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,799 shares of the financial services provider’s stock after selling 238 shares during the quarter. FourThought Financial Partners LLC’s holdings in Intercontinental Exchange were worth $310,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. REAP Financial Group LLC raised its stake in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider’s stock worth $25,000 after buying an additional 91 shares during the period. Tsfg LLC raised its stake in shares of Intercontinental Exchange by 187.3% in the first quarter. Tsfg LLC now owns 158 shares of the financial services provider’s stock worth $27,000 after buying an additional 103 shares during the period. Menard Financial Group LLC bought a new position in shares of Intercontinental Exchange in the fourth quarter worth about $29,000. Rakuten Securities Inc. raised its stake in shares of Intercontinental Exchange by 595.8% in the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider’s stock worth $29,000 after buying an additional 143 shares during the period. Finally, Global Trust Asset Management LLC bought a new position in shares of Intercontinental Exchange in the first quarter worth about $31,000. Institutional investors own 89.30% of the company’s stock.

Insider Transactions at Intercontinental Exchange

In other news, CAO James W. Namkung sold 612 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the completion of the transaction, the chief accounting officer owned 13,220 shares in the company, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sharon Bowen sold 795 shares of the business’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the transaction, the director owned 15,000 shares of the company’s stock, valued at approximately $2,749,500. The trade was a 5.03% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,119 shares of company stock worth $40,524,217. 1.00% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $184.52 on Friday. The stock has a market capitalization of $105.84 billion, a PE ratio of 38.20, a P/E/G ratio of 2.02 and a beta of 1.11. The business has a 50 day simple moving average of $179.80 and a two-hundred day simple moving average of $170.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. Intercontinental Exchange Inc. has a 1-year low of $142.29 and a 1-year high of $185.30.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.02. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Intercontinental Exchange had a return on equity of 13.27% and a net margin of 22.84%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 EPS. On average, research analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.04%. Intercontinental Exchange’s dividend payout ratio (DPR) is 39.75%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ICE shares. Bank of America decreased their target price on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Morgan Stanley lifted their target price on Intercontinental Exchange from $181.00 to $192.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Barclays lifted their target price on Intercontinental Exchange from $198.00 to $206.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Finally, UBS Group lifted their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a “buy” rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $194.42.

About Intercontinental Exchange

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.