Forum Financial Management LP Acquires 436 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Forum Financial Management LP increased its stake in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,068 shares of the financial services provider’s stock after buying an additional 436 shares during the quarter. Forum Financial Management LP’s holdings in Intercontinental Exchange were worth $755,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Intercontinental Exchange by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 52,228,177 shares of the financial services provider’s stock valued at $7,782,521,000 after purchasing an additional 538,670 shares in the last quarter. Geode Capital Management LLC boosted its position in Intercontinental Exchange by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 11,883,252 shares of the financial services provider’s stock worth $1,765,317,000 after buying an additional 327,637 shares during the period. Norges Bank bought a new stake in shares of Intercontinental Exchange in the fourth quarter worth $1,196,258,000. Independent Franchise Partners LLP raised its position in Intercontinental Exchange by 20.8% during the 4th quarter. Independent Franchise Partners LLP now owns 6,160,836 shares of the financial services provider’s stock worth $918,026,000 after purchasing an additional 1,062,904 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Intercontinental Exchange by 8.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,265,020 shares of the financial services provider’s stock worth $865,455,000 after buying an additional 390,332 shares during the period. Institutional investors own 89.30% of the company’s stock.

Insider Buying and Selling

In other Intercontinental Exchange news, President Benjamin Jackson sold 17,104 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $166.62, for a total transaction of $2,849,868.48. Following the completion of the transaction, the president now owns 155,174 shares in the company, valued at $25,855,091.88. This trade represents a 9.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lynn C. Martin sold 4,155 shares of the business’s 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 directly owns 57,376 shares in the company, valued at approximately $9,501,465.60. This trade represents a 6.75 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,931 shares of company stock valued at $10,492,868. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. cut 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. Barclays increased 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. StockNews.com raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $200.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 7th. Finally, Bank of America dropped their price target on Intercontinental Exchange from $237.00 to $230.00 and set a “buy” rating on the stock in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.47.

Intercontinental Exchange Stock Down 0.1 %

Intercontinental Exchange stock opened at $158.34 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $90.97 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 2.10 and a beta of 1.09. Intercontinental Exchange, Inc. has a fifty-two week low of $124.34 and a fifty-two week high of $177.45. The firm’s 50-day simple moving average is $167.10 and its 200 day simple moving average is $160.49.

Intercontinental Exchange (NYSE:ICE) last released 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%. Research analysts predict that Intercontinental Exchange, Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Tuesday, December 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Tuesday, December 16th. Intercontinental Exchange’s payout ratio is 40.17%.

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.