Tounjian Advisory Partners LLC Sells 5,730 Shares of Intercontinental Exchange Inc. $ICE

Tounjian Advisory Partners LLC trimmed its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE) by 21.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,456 shares of the financial services provider’s stock after selling 5,730 shares during the quarter. Intercontinental Exchange makes up 1.2% of Tounjian Advisory Partners LLC’s investment portfolio, making the stock its 17th largest position. Tounjian Advisory Partners LLC’s holdings in Intercontinental Exchange were worth $3,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Westside Investment Management Inc. purchased a new position in Intercontinental Exchange during the 2nd quarter valued at about $29,000. Private Wealth Management Group LLC increased its position in 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 period. Knuff & Co LLC lifted its position in shares of Intercontinental Exchange by 73.3% in 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 during the period. Caitlin John LLC purchased a new stake in shares of Intercontinental Exchange in the 3rd quarter worth about $32,000. Finally, Cornerstone Planning Group LLC boosted its stake in shares of Intercontinental Exchange by 128.6% during 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 in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ICE. TD Cowen reissued a “buy” rating on shares of Intercontinental Exchange in a research note on Friday, February 6th. Wall Street Zen raised Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. Royal Bank Of Canada restated an “outperform” rating and issued a $180.00 target price on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercontinental Exchange in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lowered their price objective on Intercontinental Exchange from $202.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $195.40.

Insider Activity

In other news, insider Christopher Scott Edmonds sold 11,303 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. The trade was a 44.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Mayur Kapani sold 15,213 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer directly owned 64,869 shares of the company’s stock, valued at $10,055,992.38. The trade was a 19.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 354,492 shares of company stock worth $55,139,102. 1.00% of the stock is owned by corporate insiders.

Intercontinental Exchange Price Performance

Shares of NYSE ICE opened at $164.05 on Friday. The firm has a market cap of $93.17 billion, a P/E ratio of 28.43, a PEG ratio of 1.70 and a beta of 1.02. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $164.47 and a 200 day moving average of $163.57.

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

Intercontinental Exchange Announces Dividend

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

Intercontinental Exchange Company Profile

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.