Aristotle Atlantic Partners LLC Sells 8,350 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Aristotle Atlantic Partners cut its stake in Intercontinental Exchange by 4.5% in Q3, selling 8,350 shares and now holding 176,996 shares valued at about $29.82 million.
• Insider selling has been significant: CEO Jeffrey C. Sprecher sold 150,000 shares for $23.25 million, and insiders sold 348,418 shares worth $54.2 million in the past three months, leaving insiders with roughly 1.0% ownership.
• ICE posted an earnings beat (Q EPS $1.71 vs. $1.67 est.; revenue $3.14B vs. $2.51B est.), analysts hold a consensus "Buy" with an average target of $194.73, and the stock yields about 1.3% annually.

Aristotle Atlantic Partners LLC cut its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,996 shares of the financial services provider's stock after selling 8,350 shares during the quarter. Aristotle Atlantic Partners LLC's holdings in Intercontinental Exchange were worth $29,820,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock worth $514,000 after acquiring an additional 1,169 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Intercontinental Exchange by 9.0% in the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock valued at $2,483,000 after purchasing an additional 1,189 shares in the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Intercontinental Exchange by 16.2% during the 2nd quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after purchasing an additional 289 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Intercontinental Exchange by 14.2% during the 2nd quarter. Allworth Financial LP now owns 4,893 shares of the financial services provider's stock valued at $898,000 after purchasing an additional 610 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in Intercontinental Exchange by 5.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,207 shares of the financial services provider's stock worth $221,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 89.30% of the company's stock.

Insider Activity

In other Intercontinental Exchange news, insider Christopher Scott Edmonds sold 11,303 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $153.82, for a total transaction of $1,738,627.46. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $155.00, for a total transaction of $23,250,000.00. Following the sale, the chief executive officer directly owned 1,651,705 shares of the company's stock, valued at approximately $256,014,275. This trade represents a 8.33% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 348,418 shares of company stock worth $54,196,631. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Stock Performance

ICE stock opened at $159.12 on Friday. The firm has a market cap of $90.36 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average price of $164.52 and a 200-day moving average price of $162.21. Intercontinental Exchange Inc. has a 1-year low of $143.17 and a 1-year high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.67 by $0.04. Intercontinental Exchange had a return on equity of 13.99% and a net margin of 26.23%.The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same quarter in the prior year, the company earned $1.52 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 16th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, December 16th. This represents a $2.08 annualized dividend and a yield of 1.3%. Intercontinental Exchange's payout ratio is 36.05%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays set a $193.00 price objective on shares of Intercontinental Exchange and gave the company an "overweight" rating in a research note on Friday, February 6th. Wall Street Zen upgraded shares of Intercontinental Exchange from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $180.00 price target on shares of Intercontinental Exchange in a research note on Tuesday, January 6th. Piper Sandler reissued an "overweight" rating and set a $195.00 price objective (down from $202.00) on shares of Intercontinental Exchange in a report on Wednesday, January 14th. Finally, Morgan Stanley set a $183.00 price objective on Intercontinental Exchange and gave the stock an "equal weight" rating in a research report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Intercontinental Exchange currently has a consensus rating of "Buy" and an average target price of $194.73.

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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