Horizon Investments LLC Sells 15,655 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Horizon Investments reduced its stake in Intercontinental Exchange by 42.9% in Q4, selling 15,655 shares and leaving it with 20,814 shares valued at $3.37 million.
• Intercontinental Exchange beat quarterly expectations with $2.35 EPS versus $2.23 estimate and revenue of $3.67 billion (up 20.4% year-over-year), and announced a $0.52 quarterly dividend ($2.08 annualized).
• Insiders sold a total of 348,418 shares worth $54.2 million over the last quarter, while institutional investors own about 89.3% of the company and analysts hold an average "Buy" rating with a $194.10 target.

Horizon Investments LLC lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 42.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,814 shares of the financial services provider's stock after selling 15,655 shares during the period. Horizon Investments LLC's holdings in Intercontinental Exchange were worth $3,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. ICONIQ Capital LLC boosted its position in Intercontinental Exchange by 2.2% in the second quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock valued at $481,000 after buying an additional 56 shares during the last quarter. Mechanics Financial Corp boosted its position in Intercontinental Exchange by 1.0% in the fourth quarter. Mechanics Financial Corp now owns 6,138 shares of the financial services provider's stock valued at $994,000 after buying an additional 60 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in Intercontinental Exchange by 1.9% in the fourth quarter. Aaron Wealth Advisors LLC now owns 3,384 shares of the financial services provider's stock valued at $548,000 after buying an additional 63 shares during the last quarter. Evergreen Capital Management LLC boosted its position in Intercontinental Exchange by 1.5% in the fourth quarter. Evergreen Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $681,000 after buying an additional 63 shares during the last quarter. Finally, Sather Financial Group Inc boosted its position in Intercontinental Exchange by 4.7% in the fourth quarter. Sather Financial Group Inc now owns 1,440 shares of the financial services provider's stock valued at $233,000 after buying an additional 64 shares during the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Up 1.1%

NYSE ICE opened at $156.43 on Tuesday. The business has a fifty day moving average price of $160.21 and a 200 day moving average price of $160.01. Intercontinental Exchange Inc. has a one year low of $143.17 and a one year high of $189.35. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $88.61 billion, a P/E ratio of 22.77, a P/E/G ratio of 1.60 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The financial services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.23 by $0.12. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same period in the prior year, the company earned $1.72 EPS. The firm's revenue was up 20.4% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.11 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business 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. This represents a $2.08 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange's dividend payout ratio is presently 30.28%.

Wall Street Analysts Forecast Growth

ICE has been the topic of several recent research reports. Keefe, Bruyette & Woods initiated coverage on Intercontinental Exchange in a research report on Wednesday, April 8th. They issued an "outperform" rating and a $190.00 price objective on the stock. TD Cowen restated a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Morgan Stanley upped their price objective on Intercontinental Exchange from $183.00 to $187.00 and gave the stock an "equal weight" rating in a research report on Friday, April 10th. UBS Group restated a "buy" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, Barclays reaffirmed an "overweight" rating and set a $201.00 target price (up from $198.00) on shares of Intercontinental Exchange in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $194.10.

Insider Buying and Selling

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of the company's stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total value of $1,738,627.46. Following the completion of the sale, the insider directly owned 14,266 shares in the company, valued at $2,194,396.12. This represents a 44.21% 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 company's stock in a transaction on Friday, February 20th. The shares were 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 owned 54,319 shares of the company's stock, valued at approximately $8,357,521.34. The trade was a 19.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 348,418 shares of company stock worth $54,196,631 over the last quarter. Corporate insiders own 0.84% of the company's stock.

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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