GC Wealth Management RIA LLC Sells 6,751 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• GC Wealth Management RIA LLC reduced its stake by 14.2%, selling 6,751 shares of Intercontinental Exchange and holding 40,913 shares worth $6.626 million at quarter-end.
• Company insiders have been net sellers, disposing of a total of 348,418 shares valued at $54.2 million over the last quarter, including large sales by President Benjamin Jackson and Lynn C. Martin.
• Equity analysts are broadly positive on ICE, with a MarketBeat consensus rating of "Buy" and an average price target of $193.80 after multiple upgrades and raised targets from major firms.

GC Wealth Management RIA LLC reduced its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,913 shares of the financial services provider's stock after selling 6,751 shares during the quarter. GC Wealth Management RIA LLC's holdings in Intercontinental Exchange were worth $6,626,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ICE. Pekin Hardy Strauss Inc. bought a new position in Intercontinental Exchange in the fourth quarter worth about $361,000. Narwhal Capital Management bought a new stake in Intercontinental Exchange during the 4th quarter valued at approximately $2,767,000. Oakworth Capital Inc. boosted its position in Intercontinental Exchange by 42.7% during the 4th quarter. Oakworth Capital Inc. now owns 344 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 103 shares in the last quarter. Flossbach Von Storch SE grew its holdings in shares of Intercontinental Exchange by 6.2% during the 4th quarter. Flossbach Von Storch SE now owns 4,852,469 shares of the financial services provider's stock worth $785,906,000 after acquiring an additional 284,536 shares during the period. Finally, Citizens National Bank Trust Department raised its position in shares of Intercontinental Exchange by 16.0% in the 4th quarter. Citizens National Bank Trust Department now owns 16,254 shares of the financial services provider's stock worth $2,632,000 after acquiring an additional 2,246 shares in the last quarter. 89.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. UBS Group restated a "buy" rating and issued a $200.00 target price on shares of Intercontinental Exchange in a research note on Monday, February 9th. Raymond James Financial reiterated a "strong-buy" rating and issued a $211.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Morgan Stanley raised their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price on the stock in a report on Friday, March 6th. Finally, Barclays upped their target price on shares of Intercontinental Exchange from $193.00 to $198.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $193.80.

Insider Buying and Selling

In other news, President Benjamin Jackson sold 12,861 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total value of $2,122,065.00. Following the transaction, the president owned 165,692 shares in the company, valued at approximately $27,339,180. This represents a 7.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lynn C. Martin sold 13,456 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $153.86, for a total transaction of $2,070,340.16. Following the sale, the insider owned 54,319 shares in the company, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 348,418 shares of company stock worth $54,196,631 over the last quarter. 0.84% of the stock is owned by insiders.

Intercontinental Exchange Stock Performance

Intercontinental Exchange stock opened at $156.24 on Wednesday. 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 market capitalization of $88.50 billion, a P/E ratio of 27.08, a PEG ratio of 1.63 and a beta of 1.03. The stock's 50 day moving average is $160.11 and its 200 day moving average is $160.03.

Intercontinental Exchange (NYSE:ICE - Get Free Report) 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 analysts' consensus estimates of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. During the same quarter in the previous year, the business earned $1.52 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Intercontinental Exchange Inc. will post 8.06 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange's payout ratio is presently 36.05%.

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.

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