Highline Wealth Partners LLC Sells 10,067 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Highline Wealth Partners LLC cut its stake in Intercontinental Exchange by 97.8%, selling 10,067 shares in Q4 and ending the period with 229 shares worth about $37,000.
• Company insiders have been net sellers recently — CFO Warren Gardiner and President Benjamin Jackson sold shares on Feb. 19, and insiders offloaded 348,418 shares valued at $54.2M over the last three months.
• ICE beat Q4 estimates with EPS of $1.71 (vs. $1.67 expected) and revenue of $3.14B (up 7.8% YoY); analysts' consensus is a Buy with an average price target of $194.73.

Highline Wealth Partners LLC lowered its position in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 97.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 229 shares of the financial services provider's stock after selling 10,067 shares during the period. Highline Wealth Partners LLC's holdings in Intercontinental Exchange were worth $37,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Holos Integrated Wealth LLC bought a new stake in Intercontinental Exchange in the fourth quarter worth approximately $28,000. Private Wealth Management Group LLC raised its holdings in shares of 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 in the last quarter. Knuff & Co LLC lifted its stake 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 valued at $32,000 after purchasing an additional 74 shares during the last quarter. Caitlin John LLC acquired a new stake in shares of Intercontinental Exchange in the 3rd quarter valued at $32,000. Finally, Cornerstone Planning Group LLC boosted its holdings in Intercontinental Exchange by 128.6% in the third quarter. Cornerstone Planning Group LLC now owns 272 shares of the financial services provider's stock worth $46,000 after purchasing an additional 153 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Up 0.0%

Intercontinental Exchange stock opened at $156.97 on Wednesday. The firm has a market cap of $89.15 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 1.69 and a beta of 1.03. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.02 and a quick ratio of 1.02. Intercontinental Exchange Inc. has a fifty-two week low of $143.17 and a fifty-two week high of $189.35. The firm has a fifty day moving average price of $161.89 and a two-hundred day moving average price of $160.63.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $2.51 billion. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The firm's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $1.52 earnings per share. As a group, analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 dividend on an annualized basis and a yield of 1.3%. Intercontinental Exchange's dividend payout ratio (DPR) is 36.05%.

Wall Street Analyst Weigh In

Several research firms have commented on ICE. Barclays set a $193.00 target price on shares of Intercontinental Exchange and gave the stock an "overweight" rating in a research report on Friday, February 6th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Intercontinental Exchange in a research note on Monday, December 29th. Piper Sandler reissued an "overweight" rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. 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. Finally, Raymond James Financial restated a "strong-buy" rating and issued a $211.00 target price on shares of Intercontinental Exchange in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $194.73.

Insider Transactions at Intercontinental Exchange

In other Intercontinental Exchange news, CFO Warren Gardiner sold 2,490 shares of Intercontinental Exchange stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $154.00, for a total value of $383,460.00. Following the transaction, the chief financial officer directly owned 27,679 shares of the company's stock, valued at $4,262,566. The trade was a 8.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Benjamin Jackson sold 3,865 shares of the company's stock in a transaction that occurred 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 transaction, the president owned 165,304 shares of the company's stock, valued at approximately $25,412,183.92. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 348,418 shares of company stock worth $54,196,631. Insiders own 1.00% of the company's stock.

Intercontinental Exchange 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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