Advisors Capital Management LLC Sells 925 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Advisors Capital Management LLC decreased its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 36.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,582 shares of the financial services provider’s stock after selling 925 shares during the period. Advisors Capital Management LLC’s holdings in Intercontinental Exchange were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Sierra Ocean LLC purchased a new stake in Intercontinental Exchange in the fourth quarter worth about $25,000. Redwood Park Advisors LLC purchased a new stake in Intercontinental Exchange in the 4th quarter worth approximately $33,000. Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange during the 4th quarter worth approximately $34,000. BankPlus Trust Department purchased a new position in Intercontinental Exchange during the fourth quarter valued at approximately $40,000. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Intercontinental Exchange in the fourth quarter worth approximately $45,000. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Up 0.0 %

Shares of NYSE:ICE opened at $159.83 on Wednesday. The company has a market cap of $91.82 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a 12 month low of $124.34 and a 12 month high of $177.45. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $167.62 and a 200 day moving average price of $160.54.

Intercontinental Exchange (NYSE:ICE) last posted its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. As a group, equities research analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is 40.17%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ICE. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 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 note on Wednesday, April 2nd. Finally, Barclays boosted their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $182.47.

Insider Activity

In related news, insider Lynn C. Martin sold 4,155 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $165.60, for a total transaction of $688,068.00. Following the completion of the sale, the insider now directly owns 57,376 shares of the company’s stock, valued at approximately $9,501,465.60. This trade represents a 6.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $166.47, for a total value of $1,761,252.60. Following the completion of the transaction, the senior vice president now directly owns 21,992 shares in the company, valued at $3,661,008.24. This trade represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 60,301 shares of company stock valued at $10,074,698. 1.10% of the stock is currently owned by company insiders.

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.