Stevens Capital Management LP Invests $1.60 Million in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Stevens Capital Management LP acquired 9,300 shares of Intercontinental Exchange Inc. in Q1, valued at approximately $1.6 million, indicating institutional interest in the stock.
• Insider transactions revealed that Director Sharon Bowen sold 795 shares, reducing her ownership by 5.03%, while General Counsel Andrew J. Surdykowski sold 3,848 shares, reflecting a 7.35% decrease in his stake.
• The company reported earnings of $1.72 per share for the last quarter, exceeding analysts' estimates, with a revenue of $2.47 billion reflecting an 8% year-over-year growth.

Stevens Capital Management LP bought a new position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,300 shares of the financial services provider's stock, valued at approximately $1,604,000.

A number of other institutional investors have also recently added to or reduced their stakes in ICE. Norges Bank bought a new stake in shares of Intercontinental Exchange in the 4th quarter valued at $1,196,258,000. Royal Bank of Canada boosted its stake in shares of Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock valued at $1,359,173,000 after purchasing an additional 5,204,309 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Intercontinental Exchange by 423.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock valued at $677,465,000 after purchasing an additional 3,678,384 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock valued at $3,906,700,000 after purchasing an additional 2,255,507 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Intercontinental Exchange by 50.6% in the 1st quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock valued at $1,023,534,000 after purchasing an additional 1,993,084 shares during the last quarter. 89.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ICE has been the topic of a number of analyst reports. UBS Group upped their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler boosted their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Bank of America dropped their target price on shares of Intercontinental Exchange from $237.00 to $230.00 and set a "buy" rating on the stock in a research report on Wednesday, April 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Finally, Morgan Stanley boosted their target price on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $194.42.

Intercontinental Exchange Price Performance

NYSE:ICE traded up $1.72 during mid-day trading on Tuesday, hitting $184.51. 898,977 shares of the stock traded hands, compared to its average volume of 2,958,116. The business's 50-day moving average price is $179.92 and its 200 day moving average price is $170.45. The company has a market cap of $105.84 billion, a PE ratio of 38.20, a price-to-earnings-growth ratio of 2.02 and a beta of 1.11. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $185.29. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.62.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The financial services provider reported $1.72 EPS for the quarter, beating the consensus estimate of $1.70 by $0.02. The company had revenue of $2.47 billion during the quarter, compared to analysts' expectations of $2.44 billion. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. Intercontinental Exchange's revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.48 earnings per share. On average, analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.04%. Intercontinental Exchange's dividend payout ratio (DPR) is currently 39.75%.

Insider Activity

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO James W. Namkung sold 612 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $180.00, for a total transaction of $110,160.00. Following the sale, the chief accounting officer owned 13,220 shares in the company, valued at approximately $2,379,600. This trade represents a 4.42% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 226,119 shares of company stock worth $40,524,217. Corporate insiders own 1.00% of the company's stock.

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.