Highline Wealth Partners LLC Sells 10,067 Shares of Intercontinental Exchange Inc. $ICE

Highline Wealth Partners LLC cut its position in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 97.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 229 shares of the financial services provider’s stock after selling 10,067 shares during the quarter. Highline Wealth Partners LLC’s holdings in Intercontinental Exchange were worth $37,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC bought a new stake in shares of Intercontinental Exchange in the 4th quarter worth approximately $28,000. Private Wealth Management Group LLC grew its holdings in shares of Intercontinental Exchange by 59.5% during the 3rd quarter. Private Wealth Management Group LLC now owns 177 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 66 shares in the last quarter. Knuff & Co LLC increased its position in shares of Intercontinental Exchange by 73.3% during the second quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 74 shares during the period. Caitlin John LLC bought a new stake in shares of Intercontinental Exchange during the third quarter valued at approximately $32,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 153 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on ICE. Morgan Stanley set a $183.00 target price on Intercontinental Exchange and gave the company an “equal weight” rating in a research note on Tuesday, February 10th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Piper Sandler restated an “overweight” rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Wall Street Zen raised shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Raymond James Financial reiterated a “strong-buy” rating and set a $211.00 target price on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $194.73.

Insiders Place Their Bets

In related news, President Benjamin Jackson sold 3,865 shares of Intercontinental Exchange stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.73, for a total transaction of $594,166.45. Following the completion of the transaction, the president directly owned 165,304 shares of the company’s stock, valued at $25,412,183.92. This trade represents a 2.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Lynn C. Martin sold 13,456 shares of the business’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the completion of the transaction, the insider owned 54,319 shares in the company, valued at approximately $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 348,418 shares of company stock worth $54,196,631 in the last quarter. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Intercontinental Exchange stock opened at $156.97 on Wednesday. The business has a 50 day simple moving average of $161.89 and a 200 day simple moving average of $160.63. 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 company has a market capitalization of $89.15 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 1.69 and a beta of 1.03. 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 results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $2.51 billion. During the same period in the prior year, the business posted $1.52 earnings per share. The business’s revenue was up 7.8% compared to the same quarter last year. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 36.05%.

Intercontinental Exchange Company Profile

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.