Alpha Cubed Investments LLC Has $42.13 Million Stock Position in Intercontinental Exchange Inc. $ICE

Key Points

• Alpha Cubed Investments raised its stake in Intercontinental Exchange by 226% in Q4 to 260,129 shares valued at $42.13 million, making ICE its 19th largest position (1.4% of the portfolio).
• ICE beat estimates with quarterly EPS of $2.35 (vs. $2.23) and revenue of $3.67 billion (vs. $2.88B), with revenue up 20.4% year-over-year and a net margin around 30%.
• Analysts maintain a consensus "Buy" rating on ICE with an average price target of $194.10; the company has a market cap near $87.8 billion and a P/E of ~22.6.

Alpha Cubed Investments LLC raised its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 226.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 260,129 shares of the financial services provider's stock after buying an additional 180,341 shares during the quarter. Intercontinental Exchange comprises 1.4% of Alpha Cubed Investments LLC's portfolio, making the stock its 19th biggest position. Alpha Cubed Investments LLC's holdings in Intercontinental Exchange were worth $42,130,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Ares Financial Consulting LLC acquired a new stake in shares of Intercontinental Exchange during the 4th quarter worth $25,000. Holos Integrated Wealth LLC bought a new position in shares of Intercontinental Exchange during the fourth quarter worth about $28,000. Steph & Co. grew its stake in Intercontinental Exchange by 104.7% during the fourth quarter. Steph & Co. now owns 174 shares of the financial services provider's stock worth $28,000 after purchasing an additional 89 shares during the period. Dorato Capital Management acquired a new stake in Intercontinental Exchange during the fourth quarter worth approximately $29,000. Finally, Caitlin John LLC acquired a new stake in Intercontinental Exchange in the third quarter valued at approximately $32,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of ICE opened at $155.32 on Wednesday. The business's fifty day simple moving average is $160.24 and its two-hundred day simple moving average is $159.99. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.63. Intercontinental Exchange Inc. has a 12 month low of $143.17 and a 12 month high of $189.35. The company has a market cap of $87.83 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 1.54 and a beta of 0.96.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results 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. The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $2.88 billion. Intercontinental Exchange had a return on equity of 14.99% and a net margin of 30.06%.The company's revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted $1.72 EPS. Research analysts anticipate that Intercontinental Exchange Inc. will post 8.16 earnings per share 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. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. The ex-dividend date is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange's payout ratio is 30.28%.

Insider Activity at Intercontinental Exchange

In related news, CTO Mayur Kapani sold 15,213 shares of Intercontinental Exchange stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at approximately $10,055,992.38. The trade was a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christopher Scott Edmonds sold 11,303 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $153.82, for a total value of $1,738,627.46. Following the sale, the insider directly owned 14,266 shares in the company, valued at approximately $2,194,396.12. This represents a 44.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 348,418 shares of company stock valued at $54,196,631 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price target on the stock. UBS Group restated a "buy" rating and set a $200.00 target price on shares of Intercontinental Exchange in a research report on Monday, February 9th. TD Cowen restated a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $180.00 price objective on shares of Intercontinental Exchange in a report on Tuesday, January 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded Intercontinental Exchange from a "hold" rating to a "buy" rating and set a $188.00 target price for the company in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $194.10.

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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