Blair William & Co. IL Sells 24,766 Shares of Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Blair William & Co. IL sold 24,766 shares of Intercontinental Exchange Inc., reducing their stake by 1.4%, and now holds approximately $306 million worth of the company's stock.
• Analysts have raised their price targets for Intercontinental Exchange, with figures reaching up to $212 by Barclays, indicating a positive outlook on the stock.
• The company declared a quarterly dividend of $0.48 per share, representing an annualized yield of 1.0% and reflecting its robust financial performance.

Blair William & Co. IL reduced its position in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,774,295 shares of the financial services provider's stock after selling 24,766 shares during the period. Intercontinental Exchange comprises 0.9% of Blair William & Co. IL's investment portfolio, making the stock its 20th largest holding. Blair William & Co. IL owned approximately 0.31% of Intercontinental Exchange worth $306,066,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fielder Capital Group LLC boosted its holdings in Intercontinental Exchange by 2.2% in the first quarter. Fielder Capital Group LLC now owns 2,808 shares of the financial services provider's stock valued at $484,000 after acquiring an additional 61 shares during the last quarter. Berkeley Capital Partners LLC boosted its holdings in shares of Intercontinental Exchange by 1.1% during the 1st 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 in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of Intercontinental Exchange by 17.2% during the 1st 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 in the last quarter. Values Added Financial LLC boosted its holdings 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 worth $264,000 after buying an additional 64 shares in the last quarter. Finally, MV Capital Management Inc. raised its position in shares of Intercontinental Exchange by 15.7% during the first quarter. MV Capital Management Inc. now owns 501 shares of the financial services provider's stock worth $86,000 after purchasing an additional 68 shares during the period. 89.30% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ICE shares. 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 report on Tuesday, July 15th. 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 report on Monday, May 5th. Barclays upped their target price on Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods upped their target price on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Finally, 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 report on Tuesday, July 8th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Intercontinental Exchange has an average rating of "Moderate Buy" and a consensus price target of $194.92.

Intercontinental Exchange Stock Performance

Shares of Intercontinental Exchange stock traded up $0.97 during trading hours on Wednesday, hitting $188.37. 698,878 shares of the company's stock traded hands, compared to its average volume of 2,982,385. Intercontinental Exchange Inc. has a 12-month low of $142.29 and a 12-month high of $189.23. The stock has a market capitalization of $107.82 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.23 and a beta of 1.11. The company has a fifty day simple moving average of $181.13 and a 200-day simple moving average of $171.90. 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 (NYSE:ICE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, beating 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 business 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 business posted $1.52 EPS. The firm's quarterly revenue was up 9.8% compared to the same quarter last year. Equities 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 paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange's dividend payout ratio is currently 36.85%.

Insiders Place Their Bets

In other Intercontinental Exchange 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 value of $26,883,000.00. Following the completion of the transaction, the chief executive officer owned 2,101,705 shares in the company, valued at $376,667,570.10. This trade represents a 6.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sharon Bowen sold 795 shares of Intercontinental Exchange stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $183.30, for a total value of $145,723.50. Following the sale, the director owned 15,000 shares of the company's stock, valued at approximately $2,749,500. This trade represents a 5.03% 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 over the last quarter. Insiders own 1.00% of the company's stock.

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.