Resurgent Financial Advisors LLC Sells 179 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Resurgent Financial Advisors LLC decreased its position in Intercontinental Exchange, Inc. (NYSE:ICE) by 4.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,928 shares of the financial services provider’s stock after selling 179 shares during the period. Resurgent Financial Advisors LLC’s holdings in Intercontinental Exchange were worth $585,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ICE. Sierra Ocean LLC bought a new stake in shares of Intercontinental Exchange during the fourth quarter valued at about $25,000. Redwood Park Advisors LLC purchased a new position in shares of Intercontinental Exchange in the fourth quarter worth about $33,000. Lee Danner & Bass Inc. bought a new stake in Intercontinental Exchange during the 4th quarter valued at $34,000. BankPlus Trust Department bought a new position in Intercontinental Exchange during the 4th quarter valued at approximately $40,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Intercontinental Exchange in the 4th quarter worth about $45,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Insiders Place Their Bets

In related news, insider Lynn C. Martin sold 4,155 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were 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 owns 57,376 shares of the company’s stock, valued at $9,501,465.60. This represents a 6.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Douglas Foley sold 10,580 shares of the 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 sale, the senior vice president now owns 21,992 shares of the company’s stock, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 60,301 shares of company stock worth $10,074,698 in the last ninety days. 1.10% of the stock is owned by company insiders.

Intercontinental Exchange Price Performance

NYSE:ICE opened at $159.83 on Wednesday. The firm has a market capitalization of $91.82 billion, a price-to-earnings ratio of 33.44, a PEG ratio of 2.10 and a beta of 1.09. The business has a 50 day simple moving average of $167.62 and a 200-day simple moving average of $160.54. Intercontinental Exchange, Inc. has a 1 year low of $124.34 and a 1 year high of $177.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.99 and a quick ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results 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%. 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 Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, December 16th. This represents a $1.92 dividend on an annualized basis and a yield of 1.20%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ICE. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a report on Monday, February 10th. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a report on Friday, January 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price objective on shares of Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Barclays boosted their price target on 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 given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.47.

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.