Sage Mountain Advisors LLC Sells 86 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Sage Mountain Advisors LLC reduced its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,940 shares of the financial services provider’s stock after selling 86 shares during the period. Sage Mountain Advisors LLC’s holdings in Intercontinental Exchange were worth $249,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ICE. Wellington Management Group LLP boosted its holdings in shares of Intercontinental Exchange by 219.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,146,620 shares of the financial services provider’s stock valued at $1,336,371,000 after buying an additional 8,348,126 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Intercontinental Exchange by 21.1% in the 3rd quarter. Invesco Ltd. now owns 6,073,725 shares of the financial services provider’s stock valued at $668,231,000 after buying an additional 1,058,536 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Intercontinental Exchange by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 46,919,116 shares of the financial services provider’s stock valued at $5,162,041,000 after buying an additional 1,012,034 shares in the last quarter. Barclays PLC boosted its holdings in shares of Intercontinental Exchange by 58.8% in the 3rd quarter. Barclays PLC now owns 2,374,570 shares of the financial services provider’s stock valued at $261,251,000 after buying an additional 879,646 shares in the last quarter. Finally, Third Point LLC boosted its holdings in shares of Intercontinental Exchange by 29.2% in the 3rd quarter. Third Point LLC now owns 2,389,934 shares of the financial services provider’s stock valued at $262,941,000 after buying an additional 539,934 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Warren Gardiner sold 500 shares of Intercontinental Exchange stock in a transaction on Friday, March 8th. The shares were sold at an average price of $138.83, for a total value of $69,415.00. Following the sale, the chief financial officer now owns 18,326 shares of the company’s stock, valued at approximately $2,544,198.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO James W. Namkung sold 1,182 shares of Intercontinental Exchange stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $156,059.46. Following the completion of the sale, the chief accounting officer now directly owns 16,396 shares in the company, valued at approximately $2,164,763.88. The disclosure for this sale can be found here. Insiders sold a total of 157,491 shares of company stock valued at $21,454,204 in the last three months. 1.10% of the stock is currently owned by corporate insiders.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $131.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $75.39 billion, a price-to-earnings ratio of 31.35, a price-to-earnings-growth ratio of 2.08 and a beta of 1.02. The company has a 50 day moving average price of $136.20 and a 200-day moving average price of $124.80. Intercontinental Exchange, Inc. has a 1-year low of $103.81 and a 1-year high of $140.43.

Intercontinental Exchange (NYSE:ICE) last posted its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. The business’s quarterly revenue was up 24.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. Equities research analysts forecast that Intercontinental Exchange, Inc. will post 5.98 EPS for the current year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 1.37%. This is a positive change from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Thursday, March 14th. Intercontinental Exchange’s payout ratio is 42.86%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ICE. Piper Sandler lifted their target price on shares of Intercontinental Exchange from $135.00 to $149.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Morgan Stanley lifted their target price on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Rosenblatt Securities raised their price target on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. raised their price target on shares of Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Finally, UBS Group raised their price target on shares of Intercontinental Exchange from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, February 12th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Intercontinental Exchange has an average rating of “Moderate Buy” and a consensus price target of $148.08.

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.