Virtu Financial LLC Sells 1,870 Shares of Intercontinental Exchange, Inc. (NYSE:ICE)

Virtu Financial LLC reduced its holdings in shares of Intercontinental Exchange, Inc. (NYSE:ICE) by 10.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,665 shares of the financial services provider’s stock after selling 1,870 shares during the quarter. Virtu Financial LLC’s holdings in Intercontinental Exchange were worth $2,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sierra Ocean LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at about $25,000. FSA Wealth Management LLC bought a new position in shares of Intercontinental Exchange in the third quarter valued at approximately $31,000. Lee Danner & Bass Inc. purchased a new position in shares of Intercontinental Exchange during the fourth quarter valued at approximately $34,000. BankPlus Trust Department purchased a new stake in Intercontinental Exchange in the 4th quarter valued at $40,000. Finally, Golden State Wealth Management LLC bought a new position in Intercontinental Exchange during the 4th quarter valued at $51,000. 89.30% of the stock is owned by institutional investors.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $174.42 on Friday. The company’s 50 day moving average is $164.29 and its 200-day moving average is $160.08. The firm has a market cap of $100.22 billion, a P/E ratio of 36.49, a price-to-earnings-growth ratio of 2.10 and a beta of 1.08. Intercontinental Exchange, Inc. has a 12-month low of $124.34 and a 12-month high of $175.99. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.63.

Intercontinental Exchange (NYSE:ICE) last posted 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 return on equity of 12.95% and a net margin of 23.42%. Sell-side analysts predict that Intercontinental Exchange, Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Tuesday, December 16th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, December 16th. This represents a $1.92 annualized dividend and a yield of 1.10%. Intercontinental Exchange’s dividend payout ratio is currently 40.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Intercontinental Exchange from $190.00 to $189.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. StockNews.com upgraded shares of Intercontinental Exchange from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. UBS Group boosted their target price on 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 reaffirmed an “outperform” rating and set a $200.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $178.00 to $186.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Intercontinental Exchange presently has an average rating of “Moderate Buy” and a consensus price target of $178.80.

Insider Buying and Selling at Intercontinental Exchange

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

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.