Tealwood Asset Management Inc. Cuts Stock Holdings in Intercontinental Exchange Inc. $ICE

Tealwood Asset Management Inc. reduced its position in Intercontinental Exchange Inc. (NYSE:ICE) by 28.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 10,249 shares of the financial services provider’s stock after selling 4,089 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Intercontinental Exchange were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Aventura Private Wealth LLC purchased a new stake in shares of Intercontinental Exchange during the 4th quarter worth about $98,000. Holistic Financial Partners acquired a new stake in shares of Intercontinental Exchange during the 4th quarter valued at about $208,000. Everhart Financial Group Inc. increased its stake in shares of Intercontinental Exchange by 61.4% in the 4th quarter. Everhart Financial Group Inc. now owns 2,577 shares of the financial services provider’s stock valued at $417,000 after purchasing an additional 980 shares in the last quarter. Central Pacific Bank Trust Division raised its holdings in Intercontinental Exchange by 0.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 15,136 shares of the financial services provider’s stock worth $2,451,000 after purchasing an additional 114 shares during the period. Finally, Commons Capital LLC raised its holdings in Intercontinental Exchange by 1.6% in the 4th quarter. Commons Capital LLC now owns 6,248 shares of the financial services provider’s stock worth $1,012,000 after purchasing an additional 96 shares during the period. 89.30% of the stock is owned by hedge funds and other institutional investors.

Intercontinental Exchange Stock Performance

NYSE:ICE opened at $158.54 on Friday. The company’s 50-day moving average price is $164.02 and its 200-day moving average price is $161.70. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $90.03 billion, a P/E ratio of 27.48, a P/E/G ratio of 1.71 and a beta of 1.03. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35.

Intercontinental Exchange (NYSE:ICE) last announced its quarterly earnings data on Thursday, February 5th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. Intercontinental Exchange’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.52 EPS. On average, sell-side analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 16th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange’s payout ratio is currently 36.05%.

Insiders Place Their Bets

In other Intercontinental Exchange news, President Benjamin Jackson sold 3,865 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.73, for a total value of $594,166.45. Following the completion of the sale, the president directly owned 165,304 shares in the company, valued at $25,412,183.92. This represents a 2.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lynn C. Martin sold 13,456 shares of the firm’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $153.86, for a total value of $2,070,340.16. Following the completion of the sale, the insider directly owned 54,319 shares of the company’s stock, valued at $8,357,521.34. This trade represents a 19.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 348,418 shares of company stock valued at $54,196,631. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the company an “equal weight” rating in a report on Tuesday, February 10th. Barclays set a $193.00 target price on Intercontinental Exchange and gave the stock an “overweight” rating in a research note on Friday, February 6th. Piper Sandler restated an “overweight” rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research report on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft raised Intercontinental Exchange from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research note on Friday, March 6th. Finally, Wall Street Zen upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $194.73.

About Intercontinental Exchange

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.