Riverwater Partners LLC Sells 90 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Riverwater Partners LLC lowered its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,982 shares of the financial services provider’s stock after selling 90 shares during the quarter. Riverwater Partners LLC’s holdings in Intercontinental Exchange were worth $742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its holdings in Intercontinental Exchange by 1.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,151 shares of the financial services provider’s stock worth $5,647,000 after purchasing an additional 366 shares in the last quarter. Kestra Private Wealth Services LLC raised its position in Intercontinental Exchange by 6.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 73,970 shares of the financial services provider’s stock valued at $11,022,000 after buying an additional 4,787 shares during the last quarter. M&T Bank Corp lifted its stake in Intercontinental Exchange by 33.2% in the 3rd quarter. M&T Bank Corp now owns 46,689 shares of the financial services provider’s stock valued at $7,500,000 after acquiring an additional 11,648 shares in the last quarter. Avantra Family Wealth Inc. acquired a new position in Intercontinental Exchange during the 4th quarter worth approximately $702,000. Finally, Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Intercontinental Exchange by 9.2% during the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 728,133 shares of the financial services provider’s stock worth $108,515,000 after acquiring an additional 61,110 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ICE shares. Bank of America cut their price objective on shares of Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group increased their price objective on shares of Intercontinental Exchange from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 7th. StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $182.47.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $156.89 on Friday. Intercontinental Exchange, Inc. has a 52-week low of $124.34 and a 52-week high of $177.45. The stock has a market cap of $90.13 billion, a PE ratio of 32.82, a P/E/G ratio of 2.10 and a beta of 1.09. The firm has a 50-day moving average of $168.49 and a 200-day moving average of $160.80. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99.

Intercontinental Exchange (NYSE:ICE) last issued its quarterly earnings data on Thursday, February 6th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a return on equity of 12.95% and a net margin of 23.42%. On average, sell-side analysts anticipate that Intercontinental Exchange, Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

Insider Transactions at Intercontinental Exchange

In other news, SVP Douglas Foley sold 10,580 shares of the company’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $166.47, for a total transaction of $1,761,252.60. Following the completion of the sale, the senior vice president now directly owns 21,992 shares in the company, valued at approximately $3,661,008.24. This represents a 32.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Benjamin Jackson sold 7,900 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $171.43, for a total value of $1,354,297.00. Following the sale, the president now directly owns 147,274 shares in the company, valued at approximately $25,247,181.82. This trade represents a 5.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,563 shares of company stock valued at $10,998,990. 1.10% of the stock is currently owned by corporate 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.