50,000 Shares in Intercontinental Exchange Inc. $ICE Bought by Kingdon Capital Management L.L.C.

Key Points

• Kingdon Capital purchased a new stake of 50,000 shares in Intercontinental Exchange (NYSE:ICE) in Q3, valued at approximately $8.424 million.
• Company insiders have been selling significant stock recently — CEO Jeffrey Sprecher sold 150,000 shares for about $23.25 million and insiders sold 348,418 shares totaling roughly $54.2 million over the last 90 days — leaving insiders with about 1.0% ownership.
• Intercontinental Exchange beat quarterly estimates (EPS $1.71 vs. $1.67; revenue $3.14B), pays a $0.52 quarterly dividend (≈1.3% yield), and has an analyst consensus rating of Buy with an average target of $194.73.

Kingdon Capital Management L.L.C. purchased a new stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 50,000 shares of the financial services provider's stock, valued at approximately $8,424,000.

Several other large investors have also bought and sold shares of the stock. ICONIQ Capital LLC grew its stake in shares of Intercontinental Exchange by 2.2% in the 2nd quarter. ICONIQ Capital LLC now owns 2,621 shares of the financial services provider's stock worth $481,000 after acquiring an additional 56 shares in the last quarter. SBI Securities Co. Ltd. lifted its position in shares of Intercontinental Exchange by 5.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider's stock valued at $221,000 after purchasing an additional 58 shares in the last quarter. Cascade Investment Advisors Inc. lifted its position in shares of Intercontinental Exchange by 0.5% during the 3rd quarter. Cascade Investment Advisors Inc. now owns 13,766 shares of the financial services provider's stock valued at $2,319,000 after buying an additional 65 shares during the last quarter. Private Wealth Management Group LLC grew its stake 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 worth $30,000 after acquiring an additional 66 shares during the period. Finally, Ipswich Investment Management Co. Inc. increased its holdings in Intercontinental Exchange by 3.2% in the 3rd quarter. Ipswich Investment Management Co. Inc. now owns 2,248 shares of the financial services provider's stock worth $379,000 after acquiring an additional 70 shares during the last quarter. 89.30% of the stock is currently owned by institutional investors.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE opened at $159.12 on Monday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The company has a market cap of $90.36 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.04. The company has a 50-day moving average price of $164.52 and a 200-day moving average price of $162.11. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 earnings per share 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 analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, equities analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Announces Dividend

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 dividend yield of 1.3%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 33.28%.

Insider Transactions at Intercontinental Exchange

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the transaction, the chief executive officer directly owned 1,651,705 shares of the company's stock, valued at $256,014,275. This represents a 8.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Benjamin Jackson sold 12,861 shares of the stock in a transaction 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 sale, the president directly owned 165,692 shares in the company, valued at $27,339,180. This trade represents a 7.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 348,418 shares of company stock valued at $54,196,631. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ICE shares. Piper Sandler restated an "overweight" rating and issued a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a research note on Wednesday, January 14th. Barclays set a $193.00 target price on shares of Intercontinental Exchange and gave the stock an "overweight" rating in a research note on Friday, February 6th. Raymond James Financial reissued a "strong-buy" rating and issued a $211.00 price target on shares of Intercontinental Exchange in a research report on Tuesday, January 6th. Morgan Stanley set a $183.00 price target on shares of Intercontinental Exchange and gave the company an "equal weight" rating in a research note on Tuesday, February 10th. Finally, UBS Group reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Intercontinental Exchange in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has an average rating of "Buy" and a consensus target price of $194.73.

About Intercontinental Exchange

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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