Lighthouse Investment Partners LLC Sells 34,185 Shares of Intercontinental Exchange Inc. $ICE

Lighthouse Investment Partners LLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 36.9% in the 3rd quarter, Holdings Channel reports. The fund owned 58,405 shares of the financial services provider’s stock after selling 34,185 shares during the period. Lighthouse Investment Partners LLC’s holdings in Intercontinental Exchange were worth $9,840,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. 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 valued at $30,000 after purchasing an additional 66 shares during the last quarter. Knuff & Co LLC increased its position in Intercontinental Exchange by 73.3% during the 2nd quarter. Knuff & Co LLC now owns 175 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 74 shares in the last quarter. Caitlin John LLC bought a new position in Intercontinental Exchange in the 3rd quarter valued at approximately $32,000. Cornerstone Planning Group LLC lifted its stake in Intercontinental Exchange by 128.6% in the 3rd 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 during the last quarter. Finally, Capital A Wealth Management LLC boosted its position in Intercontinental Exchange by 26,000.0% in the second quarter. Capital A Wealth Management LLC now owns 261 shares of the financial services provider’s stock valued at $48,000 after buying an additional 260 shares in the last quarter. Institutional investors own 89.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ICE. Morgan Stanley set a $183.00 target price on shares of Intercontinental Exchange and gave the stock an “equal weight” rating in a research note on Tuesday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $195.00 price target (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a report on Friday, February 6th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $194.73.

Intercontinental Exchange Trading Up 0.3%

Shares of NYSE ICE opened at $159.12 on Monday. The firm has a 50 day moving average price of $164.52 and a two-hundred day moving average price of $162.11. The stock has a market cap of $90.36 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. Intercontinental Exchange Inc. has a 52-week low of $143.17 and a 52-week high of $189.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. Intercontinental Exchange’s revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is currently 33.28%.

Insider Activity

In other Intercontinental Exchange news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total value of $23,250,000.00. Following the sale, the chief executive officer owned 1,651,705 shares in the company, valued at approximately $256,014,275. The trade was a 8.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company’s stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 348,418 shares of company stock worth $54,196,631. 1.00% of the stock is owned by corporate insiders.

About Intercontinental Exchange

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.