Intercontinental Exchange Inc. $ICE Shares Sold by Altrinsic Global Advisors LLC

Key Points

• Altrinsic Global Advisors LLC reduced its holdings in Intercontinental Exchange Inc. by 5.7%, owning 123,387 shares valued at approximately $21.3 million, making it the fund's 17th largest holding.
• Intercontinental Exchange reported a quarterly EPS of $1.81, exceeding estimates, with revenue reaching $3.26 billion, a 9.8% increase from the previous year.
• The company announced a quarterly dividend of $0.48 per share, with a dividend yield of 1.1% and a payout ratio of 36.85%.

Altrinsic Global Advisors LLC decreased its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 123,387 shares of the financial services provider's stock after selling 7,440 shares during the period. Intercontinental Exchange makes up approximately 1.1% of Altrinsic Global Advisors LLC's holdings, making the stock its 17th largest position. Altrinsic Global Advisors LLC's holdings in Intercontinental Exchange were worth $21,284,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Brighton Jones LLC increased its holdings in Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after buying an additional 1,169 shares in the last quarter. Gilder Gagnon Howe & Co. LLC purchased a new position in Intercontinental Exchange in the fourth quarter valued at about $447,000. Northern Trust Corp increased its holdings in Intercontinental Exchange by 9.7% in the fourth quarter. Northern Trust Corp now owns 7,422,007 shares of the financial services provider's stock valued at $1,105,953,000 after buying an additional 655,247 shares in the last quarter. Caden Capital Partners LP increased its holdings in Intercontinental Exchange by 114.6% in the fourth quarter. Caden Capital Partners LP now owns 185,371 shares of the financial services provider's stock valued at $27,622,000 after buying an additional 99,010 shares in the last quarter. Finally, Lido Advisors LLC increased its holdings in Intercontinental Exchange by 6.9% in the fourth quarter. Lido Advisors LLC now owns 49,891 shares of the financial services provider's stock valued at $7,434,000 after buying an additional 3,203 shares in the last quarter. Institutional investors and hedge funds own 89.30% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ICE. Piper Sandler raised their price objective on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Barclays raised their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. UBS Group raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, Morgan Stanley raised their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Ten equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $194.92.

Insiders Place Their Bets

In related news, Director Martha A. Tirinnanzi sold 610 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $179.76, for a total transaction of $109,653.60. Following the completion of the sale, the director owned 3,519 shares of the company's stock, valued at $632,575.44. This represents a 14.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the sale, the chief executive officer directly owned 1,951,705 shares of the company's stock, valued at approximately $357,337,668.45. This represents a 7.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 449,993 shares of company stock worth $81,486,507. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.3%

Shares of ICE traded down $0.54 during mid-day trading on Friday, reaching $176.60. The company had a trading volume of 1,775,543 shares, compared to its average volume of 3,016,317. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $101.09 billion, a price-to-earnings ratio of 33.90, a price-to-earnings-growth ratio of 2.11 and a beta of 1.11. The firm has a fifty day simple moving average of $182.07 and a 200-day simple moving average of $174.55. Intercontinental Exchange Inc. has a fifty-two week low of $142.29 and a fifty-two week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 EPS for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the business posted $1.52 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

About Intercontinental Exchange

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.