Annis Gardner Whiting Capital Advisors LLC Decreases Stock Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Annis Gardner Whiting Capital Advisors LLC reduced its stake in Intercontinental Exchange Inc. by 47.1%, holding 7,092 shares worth approximately $1.22 million as of the latest SEC filing.
• Institutional investors and hedge funds hold 89.30% of Intercontinental Exchange's stock, with several notable changes in positions, including Governors Lane LP increasing its stake by 88.0%.
• The company recently reported earnings of $1.81 per share, exceeding estimates, with a revenue of $3.26 billion, reflecting a 9.8% year-over-year increase.

Annis Gardner Whiting Capital Advisors LLC lowered its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 47.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,092 shares of the financial services provider's stock after selling 6,307 shares during the quarter. Annis Gardner Whiting Capital Advisors LLC's holdings in Intercontinental Exchange were worth $1,223,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ICE. Fielder Capital Group LLC raised its holdings in shares of Intercontinental Exchange by 2.2% in the 1st quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock worth $484,000 after purchasing an additional 61 shares during the period. Berkeley Capital Partners LLC increased its position in Intercontinental Exchange by 1.1% in the first quarter. Berkeley Capital Partners LLC now owns 5,639 shares of the financial services provider's stock worth $973,000 after buying an additional 62 shares during the last quarter. GPS Wealth Strategies Group LLC increased its position in Intercontinental Exchange by 17.2% in the first quarter. GPS Wealth Strategies Group LLC now owns 430 shares of the financial services provider's stock worth $74,000 after buying an additional 63 shares during the last quarter. Values Added Financial LLC lifted its stake in shares of Intercontinental Exchange by 4.4% during the 1st quarter. Values Added Financial LLC now owns 1,533 shares of the financial services provider's stock valued at $264,000 after buying an additional 64 shares in the last quarter. Finally, MV Capital Management Inc. raised its holdings in Intercontinental Exchange by 15.7% during the 1st quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock valued at $86,000 after acquiring an additional 68 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Price Performance

NYSE ICE traded up $0.67 during trading hours on Wednesday, reaching $188.07. 2,690,504 shares of the stock traded hands, compared to its average volume of 2,478,482. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $181.13 and a two-hundred day simple moving average of $171.90. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.23. The company has a market cap of $107.65 billion, a price-to-earnings ratio of 36.10, a price-to-earnings-growth ratio of 2.22 and a beta of 1.11.

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, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The company's revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.52 EPS. On average, analysts predict that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.0%. Intercontinental Exchange's dividend payout ratio (DPR) is 36.85%.

Insider Buying and Selling

In other news, General Counsel Andrew J. Surdykowski sold 3,848 shares of Intercontinental Exchange stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $179.12, for a total value of $689,253.76. Following the transaction, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sharon Bowen sold 794 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $185.00, for a total value of $146,890.00. Following the completion of the sale, the director directly owned 14,206 shares of the company's stock, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock worth $40,671,107 in the last ninety days. 1.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Intercontinental Exchange Company 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.