13,239 Shares in Intercontinental Exchange Inc. (NYSE:ICE) Purchased by Banque Cantonale Vaudoise

Key Points

• Banque Cantonale Vaudoise invested approximately $2.28 million in Intercontinental Exchange Inc., acquiring 13,239 shares in the first quarter.
• Insider sales included 795 shares sold by Director Sharon Bowen and 612 shares by CAO James W. Namkung, indicating a trend of insider transactions at the company.
• Intercontinental Exchange's recent earnings report showed an EPS of $1.72, exceeding analysts' expectations and signaling a year-over-year revenue increase of 8%.

Banque Cantonale Vaudoise acquired a new stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 13,239 shares of the financial services provider's stock, valued at approximately $2,284,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ICE. REAP Financial Group LLC boosted its holdings in Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 91 shares during the last quarter. Tsfg LLC raised its stake in Intercontinental Exchange by 187.3% during the first quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after buying an additional 103 shares during the last quarter. Menard Financial Group LLC acquired a new position in Intercontinental Exchange in the fourth quarter valued at $29,000. Rakuten Securities Inc. boosted its position in Intercontinental Exchange by 595.8% during the first quarter. Rakuten Securities Inc. now owns 167 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 143 shares during the last quarter. Finally, Global Trust Asset Management LLC acquired a new stake in Intercontinental Exchange during the 1st quarter worth about $31,000. Institutional investors own 89.30% of the company's stock.

Intercontinental Exchange Stock Performance

Shares of ICE stock traded up $1.47 during trading on Wednesday, hitting $186.18. The company's stock had a trading volume of 3,506,659 shares, compared to its average volume of 1,871,467. Intercontinental Exchange Inc. has a 52 week low of $142.29 and a 52 week high of $187.38. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $180.10 and a 200-day moving average of $170.55. The company has a market cap of $106.80 billion, a PE ratio of 38.55, a P/E/G ratio of 2.02 and a beta of 1.11.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last posted its earnings results on Thursday, May 1st. The financial services provider reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.02. Intercontinental Exchange had a net margin of 22.84% and a return on equity of 13.27%. The firm had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $1.48 earnings per share. The company's revenue was up 8.0% on a year-over-year basis. As a group, research analysts anticipate that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.

Intercontinental Exchange Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.03%. Intercontinental Exchange's dividend payout ratio is currently 39.75%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ICE. Morgan Stanley upped their target price 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 raised their price objective on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, July 8th. Barclays increased their target price on shares of Intercontinental Exchange from $198.00 to $206.00 and gave the stock an "overweight" rating in a research note on Thursday, July 10th. Piper Sandler lifted their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the company an "overweight" rating in a research note on Tuesday, July 15th. Finally, Keefe, Bruyette & Woods raised their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $194.42.

Insiders Place Their Bets

In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $179.22, for a total transaction of $26,883,000.00. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Andrew J. Surdykowski sold 3,848 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $179.12, for a total value of $689,253.76. Following the sale, the general counsel owned 48,480 shares of the company's stock, valued at $8,683,737.60. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,913 shares of company stock valued at $40,671,107 over the last quarter. 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.