American Money Management LLC Buys 15,761 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• American Money Management LLC has increased its stake in Intercontinental Exchange Inc. by 111%, acquiring an additional 15,761 shares, bringing its total holdings to 29,962 shares valued at approximately $5.17 million.
• Intercontinental Exchange reported a quarterly EPS of $1.81, surpassing analysts' estimates of $1.77, and achieved a revenue of $3.26 billion during the quarter, exceeding expectations of $2.50 billion.
• The company plans to pay a quarterly dividend of $0.48 per share on September 30th, representing an annualized yield of 1.1% and a payout ratio of 36.85%.

American Money Management LLC increased its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 111.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,962 shares of the financial services provider's stock after buying an additional 15,761 shares during the quarter. American Money Management LLC's holdings in Intercontinental Exchange were worth $5,169,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its position in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,169 shares during the last quarter. Townsquare Capital LLC raised its position in Intercontinental Exchange by 16.7% in the 4th quarter. Townsquare Capital LLC now owns 12,060 shares of the financial services provider's stock valued at $1,797,000 after purchasing an additional 1,725 shares during the last quarter. Mariner LLC raised its position in Intercontinental Exchange by 2.5% in the 4th quarter. Mariner LLC now owns 106,001 shares of the financial services provider's stock valued at $15,795,000 after purchasing an additional 2,605 shares during the last quarter. Gabelli Funds LLC raised its position in Intercontinental Exchange by 27.0% in the 4th quarter. Gabelli Funds LLC now owns 38,780 shares of the financial services provider's stock valued at $5,779,000 after purchasing an additional 8,240 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in Intercontinental Exchange by 13.8% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,556 shares of the financial services provider's stock valued at $232,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.8%

NYSE ICE opened at $181.21 on Thursday. The stock has a fifty day moving average of $181.89 and a 200-day moving average of $173.08. The stock has a market capitalization of $103.73 billion, a P/E ratio of 34.78, a price-to-earnings-growth ratio of 2.17 and a beta of 1.11. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.01.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced 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 return on equity of 13.66% and a net margin of 23.92%. The business had revenue of $3.26 billion during the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts forecast that Intercontinental Exchange Inc. will post 6.73 EPS for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 36.85%.

Insider Buying and Selling at Intercontinental Exchange

In related news, SVP Douglas Foley sold 1,600 shares of Intercontinental Exchange stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total transaction of $283,968.00. Following the completion of the sale, the senior vice president directly owned 27,313 shares of the company's stock, valued at $4,847,511.24. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total value of $26,883,000.00. Following the sale, the chief executive officer directly owned 2,101,705 shares of the company's stock, valued at approximately $376,667,570.10. This trade represents a 6.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 226,913 shares of company stock valued at $40,671,107 over the last quarter. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ICE. Keefe, Bruyette & Woods lifted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Barclays lifted their price objective on Intercontinental Exchange from $206.00 to $212.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. UBS Group lifted their price objective on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler lifted their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $194.92.

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.

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