B. Metzler seel. Sohn & Co. AG Grows Position in Intercontinental Exchange Inc. $ICE

Key Points

• B. Metzler seel. Sohn & Co. AG increased its stake in Intercontinental Exchange Inc. by 12.9%, holding a total of 135,895 shares valued at approximately $23.44 million.
• Intercontinental Exchange recently reported $1.81 EPS for the quarter, exceeding estimates and showing a 9.8% revenue growth year-over-year, with a total revenue of $3.26 billion.
• The company announced a quarterly dividend of $0.48 per share, resulting in an annualized dividend yield of 1.1% and a payout ratio of 36.85%.

B. Metzler seel. Sohn & Co. AG grew its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 12.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,895 shares of the financial services provider's stock after purchasing an additional 15,537 shares during the period. B. Metzler seel. Sohn & Co. AG's holdings in Intercontinental Exchange were worth $23,442,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of ICE. Price T Rowe Associates Inc. MD boosted its position in Intercontinental Exchange by 491.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,433,497 shares of the financial services provider's stock worth $1,109,780,000 after purchasing an additional 5,345,388 shares in the last quarter. Royal Bank of Canada boosted its position in Intercontinental Exchange by 132.9% in the 4th quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after purchasing an additional 5,204,309 shares in the last quarter. Nuveen LLC purchased a new stake in Intercontinental Exchange in the 1st quarter worth approximately $575,383,000. Wellington Management Group LLP boosted its position in Intercontinental Exchange by 113.9% in the 1st quarter. Wellington Management Group LLP now owns 5,943,363 shares of the financial services provider's stock worth $1,025,230,000 after purchasing an additional 3,165,381 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Intercontinental Exchange by 24,394.4% in the 1st quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after purchasing an additional 2,255,507 shares in the last quarter. Hedge funds and other institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Down 0.2%

NYSE ICE opened at $178.73 on Wednesday. The business has a fifty day moving average price of $182.19 and a 200 day moving average price of $174.34. Intercontinental Exchange Inc. has a one year low of $142.29 and a one year 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. The company has a market cap of $102.31 billion, a P/E ratio of 34.30, a P/E/G ratio of 2.14 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%.The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.52 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. Research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 EPS for the current fiscal year.

Intercontinental Exchange Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.1%. Intercontinental Exchange's payout ratio is currently 36.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ICE shares. Keefe, Bruyette & Woods upped their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Barclays upped their target price on 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 upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler upped their target price on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley upped their target price on 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $194.92.

Insider Buying and Selling

In other Intercontinental Exchange news, SVP Douglas Foley sold 1,600 shares of the company's stock in a transaction 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 sale, the senior vice president directly owned 27,313 shares in the company, valued at $4,847,511.24. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Warren Gardiner sold 1,570 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $178.45, for a total value of $280,166.50. Following the completion of the sale, the chief financial officer owned 22,106 shares of the company's stock, valued at approximately $3,944,815.70. The trade was a 6.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,719 shares of company stock worth $80,546,996 over the last quarter. Corporate insiders own 1.00% of the company's stock.

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.

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