Midland Wealth Advisors LLC Sells 225 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Midland Wealth Advisors LLC trimmed its holdings in Intercontinental Exchange, Inc. (NYSE:ICE) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,338 shares of the financial services provider’s stock after selling 225 shares during the quarter. Midland Wealth Advisors LLC’s holdings in Intercontinental Exchange were worth $944,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sierra Ocean LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth $25,000. Capital Performance Advisors LLP bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $29,000. FSA Wealth Management LLC bought a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at about $31,000. BankPlus Trust Department purchased a new stake in Intercontinental Exchange during the 4th quarter valued at about $40,000. Finally, Planning Capital Management Corp grew its position in Intercontinental Exchange by 96.7% during the 3rd quarter. Planning Capital Management Corp now owns 299 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 147 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ICE. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. Royal Bank of Canada restated an “outperform” rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Barclays increased their target price on shares of Intercontinental Exchange from $179.00 to $189.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price target on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.80.

Intercontinental Exchange Price Performance

Shares of ICE stock opened at $170.40 on Monday. The business’s fifty day moving average is $159.46 and its 200 day moving average is $159.30. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63. The stock has a market cap of $97.91 billion, a price-to-earnings ratio of 35.65, a PEG ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a twelve month low of $124.34 and a twelve month high of $175.41.

Intercontinental Exchange (NYSE:ICE) last announced its earnings results on Thursday, February 6th. The financial services provider reported $1.52 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.01). Intercontinental Exchange had a net margin of 23.42% and a return on equity of 12.95%. Research analysts expect that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Tuesday, December 16th. Intercontinental Exchange’s dividend payout ratio (DPR) is presently 40.17%.

Insider Buying and Selling at Intercontinental Exchange

In other news, President Benjamin Jackson sold 17,104 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $166.62, for a total value of $2,849,868.48. Following the sale, the president now directly owns 155,174 shares of the company’s stock, valued at approximately $25,855,091.88. This represents a 9.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Mayur Kapani sold 5,661 shares of Intercontinental Exchange stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $147.59, for a total value of $835,506.99. Following the completion of the transaction, the chief technology officer now directly owns 66,548 shares of the company’s stock, valued at approximately $9,821,819.32. This represents a 7.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,268 shares of company stock valued at $11,262,789. Corporate insiders own 1.10% of the company’s stock.

About Intercontinental Exchange

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.