Intercontinental Exchange, Inc. (NYSE:ICE) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 1.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 9,714 shares of the financial services provider’s stock after selling 161 shares during the quarter. Forte Capital LLC ADV’s holdings in Intercontinental Exchange were worth $1,561,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth $487,000. Advisory Alpha LLC acquired a new stake in shares of Intercontinental Exchange in the first quarter valued at approximately $207,000. Manchester Capital Management LLC grew its position in shares of Intercontinental Exchange by 5.5% during the first quarter. Manchester Capital Management LLC now owns 1,983 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 103 shares during the last quarter. Empirical Finance LLC increased its holdings in shares of Intercontinental Exchange by 11.8% in the 1st quarter. Empirical Finance LLC now owns 7,978 shares of the financial services provider’s stock valued at $1,096,000 after acquiring an additional 844 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Intercontinental Exchange by 23.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 79,960 shares of the financial services provider’s stock worth $10,989,000 after purchasing an additional 14,937 shares during the period. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ICE. Raymond James cut shares of Intercontinental Exchange from a “strong-buy” rating to an “outperform” rating and set a $185.00 target price for the company. in a report on Monday, October 14th. StockNews.com downgraded Intercontinental Exchange from a “hold” rating to a “sell” rating in a research note on Monday, October 21st. TD Cowen began coverage on Intercontinental Exchange in a report on Thursday, September 26th. They issued a “buy” rating and a $182.00 target price on the stock. Piper Sandler increased their price target on Intercontinental Exchange from $170.00 to $180.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted their price objective on shares of Intercontinental Exchange from $171.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.93.

Intercontinental Exchange Stock Performance

ICE opened at $155.79 on Thursday. Intercontinental Exchange, Inc. has a 1-year low of $107.76 and a 1-year high of $167.99. The stock has a market cap of $89.45 billion, a P/E ratio of 36.92, a P/E/G ratio of 2.57 and a beta of 1.08. The stock’s 50 day simple moving average is $161.71 and its 200 day simple moving average is $148.85. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.00 and a quick ratio of 1.00.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, October 31st. The financial services provider reported $1.55 earnings per share for the quarter, meeting the consensus estimate of $1.55. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.35 billion. Intercontinental Exchange had a return on equity of 12.75% and a net margin of 21.31%. Intercontinental Exchange’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.46 earnings per share. As a group, equities analysts anticipate that Intercontinental Exchange, Inc. will post 6.09 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.45 dividend. The ex-dividend date is Monday, December 16th. This represents a $1.80 annualized dividend and a dividend yield of 1.16%. Intercontinental Exchange’s dividend payout ratio is presently 42.65%.

Insider Buying and Selling

In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $160.00, for a total transaction of $187,360.00. Following the sale, the chief accounting officer now owns 16,665 shares in the company, valued at approximately $2,666,400. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Intercontinental Exchange news, CAO James W. Namkung sold 1,171 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $160.00, for a total value of $187,360.00. Following the transaction, the chief accounting officer now directly owns 16,665 shares in the company, valued at approximately $2,666,400. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Andrew J. Surdykowski sold 2,048 shares of Intercontinental Exchange stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $159.57, for a total transaction of $326,799.36. Following the sale, the general counsel now owns 44,865 shares of the company’s stock, valued at approximately $7,159,108.05. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,489 shares of company stock worth $1,202,259 in the last ninety days. Insiders own 1.10% of the company’s stock.

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.