Aviso Financial Inc. Raises Stock Holdings in Intercontinental Exchange Inc. $ICE

Key Points

• Aviso Financial Inc. increased its holdings in Intercontinental Exchange Inc. by 5.5%, owning a total of 50,122 shares worth approximately $8.6 million at the end of the recent quarter.
• Notable institutional investors, including Royal Bank of Canada and Kovitz Investment Group Partners LLC, significantly raised their stakes in Intercontinental Exchange, with Royal Bank of Canada increasing its holdings by 132.9% during the fourth quarter.
• Intercontinental Exchange reported earnings per share (EPS) of $1.81 for the last quarter, surpassing analysts' expectations of $1.77, alongside a revenue of $3.26 billion, which is a 9.8% increase year-over-year.

Aviso Financial Inc. boosted its holdings in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 50,122 shares of the financial services provider's stock after buying an additional 2,631 shares during the quarter. Aviso Financial Inc.'s holdings in Intercontinental Exchange were worth $8,646,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Brooklyn Investment Group grew its stake in shares of Intercontinental Exchange by 65.6% during the 1st quarter. Brooklyn Investment Group now owns 5,283 shares of the financial services provider's stock valued at $911,000 after purchasing an additional 2,093 shares during the period. Mill Creek Capital Advisors LLC grew its stake in shares of Intercontinental Exchange by 32.2% during the 1st quarter. Mill Creek Capital Advisors LLC now owns 1,846 shares of the financial services provider's stock valued at $318,000 after purchasing an additional 450 shares during the period. Freestone Capital Holdings LLC grew its stake in shares of Intercontinental Exchange by 12.1% during the 1st quarter. Freestone Capital Holdings LLC now owns 3,096 shares of the financial services provider's stock valued at $534,000 after purchasing an additional 335 shares during the period. Seven Mile Advisory grew its stake in shares of Intercontinental Exchange by 6.8% during the 1st quarter. Seven Mile Advisory now owns 2,179 shares of the financial services provider's stock valued at $376,000 after purchasing an additional 138 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of Intercontinental Exchange by 220.9% during the 1st quarter. Northwest & Ethical Investments L.P. now owns 3,071 shares of the financial services provider's stock valued at $529,000 after purchasing an additional 2,114 shares during the period. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of NYSE:ICE traded down $2.0560 during mid-day trading on Thursday, reaching $179.2440. 1,973,631 shares of the company traded hands, compared to its average volume of 3,009,574. The company's 50 day moving average price is $182.19 and its 200-day moving average price is $173.81. The firm has a market cap of $102.60 billion, a PE ratio of 34.40, a PEG ratio of 2.13 and a beta of 1.11. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.01. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $189.35.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its quarterly earnings results 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 company had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $2.50 billion. During the same period in the previous year, the firm earned $1.52 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. On average, equities analysts expect that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Dividend Announcement

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

Insider Buying and Selling

In related news, CAO James W. Namkung sold 612 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $180.00, for a total value of $110,160.00. Following the transaction, the chief accounting officer directly owned 13,220 shares of the company's stock, valued at approximately $2,379,600. The trade was a 4.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas Foley sold 1,600 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $177.48, for a total value of $283,968.00. Following the completion of the transaction, the senior vice president directly owned 27,313 shares in the company, valued at approximately $4,847,511.24. This represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 442,936 shares of company stock worth $80,227,488 in the last quarter. 1.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ICE shares. Piper Sandler boosted their price target on Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. UBS Group boosted their price target on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Barclays boosted 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. Finally, Morgan Stanley boosted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Ten investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price 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.