Compass Capital Management Inc. Lowers Holdings in Intercontinental Exchange, Inc. (NYSE:ICE)

Compass Capital Management Inc. cut its stake in Intercontinental Exchange, Inc. (NYSE:ICE) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 453,999 shares of the financial services provider’s stock after selling 1,212 shares during the quarter. Intercontinental Exchange accounts for about 4.1% of Compass Capital Management Inc.’s investment portfolio, making the stock its 8th largest holding. Compass Capital Management Inc. owned 0.08% of Intercontinental Exchange worth $58,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in ICE. Fortitude Family Office LLC bought a new stake in Intercontinental Exchange in the 4th quarter worth approximately $28,000. Stuart Chaussee & Associates Inc. purchased a new position in shares of Intercontinental Exchange in the 4th quarter worth $28,000. Jones Financial Companies Lllp purchased a new position in shares of Intercontinental Exchange in the 3rd quarter worth $26,000. OFI Invest Asset Management bought a new stake in shares of Intercontinental Exchange in the third quarter worth $25,000. Finally, BKM Wealth Management LLC purchased a new stake in Intercontinental Exchange during the fourth quarter valued at $31,000. 89.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Piper Sandler boosted their price target on Intercontinental Exchange from $135.00 to $149.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. Rosenblatt Securities upped their target price on shares of Intercontinental Exchange from $154.00 to $164.00 and gave the company a “buy” rating in a report on Friday, February 9th. Morgan Stanley lifted their price target on shares of Intercontinental Exchange from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. upped their price objective on Intercontinental Exchange from $142.00 to $151.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded Intercontinental Exchange from a “sell” rating to a “hold” rating in a research report on Wednesday, February 14th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $148.08.

Insider Transactions at Intercontinental Exchange

In other news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares of the company’s stock, valued at approximately $2,276,461.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Elizabeth Kathryn King sold 3,783 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $132.03, for a total transaction of $499,469.49. Following the sale, the insider now directly owns 17,242 shares in the company, valued at approximately $2,276,461.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Benjamin Jackson sold 27,970 shares of Intercontinental Exchange stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $134.74, for a total value of $3,768,677.80. Following the completion of the transaction, the president now owns 138,487 shares of the company’s stock, valued at approximately $18,659,738.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 157,491 shares of company stock valued at $21,454,204. 1.10% of the stock is currently owned by insiders.

Intercontinental Exchange Price Performance

NYSE ICE traded down $2.02 during trading hours on Tuesday, reaching $128.76. The company’s stock had a trading volume of 2,304,518 shares, compared to its average volume of 2,375,570. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.80. Intercontinental Exchange, Inc. has a 1 year low of $103.81 and a 1 year high of $140.43. The firm’s 50-day moving average price is $135.74 and its 200-day moving average price is $125.52. The company has a market capitalization of $73.73 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 2.15 and a beta of 1.02.

Intercontinental Exchange (NYSE:ICE) last issued its earnings results on Thursday, February 8th. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.20 billion. Intercontinental Exchange had a net margin of 23.91% and a return on equity of 12.91%. Intercontinental Exchange’s revenue for the quarter was up 24.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.25 earnings per share. On average, equities research analysts predict that Intercontinental Exchange, Inc. will post 5.97 EPS for the current fiscal year.

Intercontinental Exchange Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 1.40%. This is a boost from Intercontinental Exchange’s previous quarterly dividend of $0.42. The ex-dividend date was Thursday, March 14th. Intercontinental Exchange’s payout ratio is 42.86%.

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.