Callan Family Office LLC Lowers Holdings in Intercontinental Exchange Inc. (NYSE:ICE)

Key Points

• Callan Family Office LLC reduced its stake in Intercontinental Exchange Inc. by 24.1%, leaving it with 7,662 shares valued at approximately $1.32 million.
• Vanguard Group Inc. increased its holdings in Intercontinental Exchange by 1.4% in the first quarter, bringing its total to over 52.9 million shares, valued at $9.13 billion.
• Intercontinental Exchange announced a quarterly dividend of $0.48 per share, reflecting a 1.0% dividend yield and a payout ratio of 36.85%.

Callan Family Office LLC cut its holdings in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 24.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,662 shares of the financial services provider's stock after selling 2,436 shares during the period. Callan Family Office LLC's holdings in Intercontinental Exchange were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Royal Bank of Canada raised its position in shares of Intercontinental Exchange by 132.9% in the fourth quarter. Royal Bank of Canada now owns 9,121,352 shares of the financial services provider's stock worth $1,359,173,000 after acquiring an additional 5,204,309 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Intercontinental Exchange by 423.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 4,546,437 shares of the financial services provider's stock worth $677,465,000 after acquiring an additional 3,678,384 shares during the period. Nuveen LLC acquired a new position in shares of Intercontinental Exchange in the first quarter worth about $575,383,000. GAMMA Investing LLC raised its position in shares of Intercontinental Exchange by 24,394.4% in the first quarter. GAMMA Investing LLC now owns 2,264,753 shares of the financial services provider's stock worth $3,906,700,000 after acquiring an additional 2,255,507 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Intercontinental Exchange by 50.6% in the first quarter. Bank of New York Mellon Corp now owns 5,933,532 shares of the financial services provider's stock worth $1,023,534,000 after acquiring an additional 1,993,084 shares during the period. 89.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intercontinental Exchange

In related news, CEO Jeffrey C. Sprecher sold 150,000 shares of the company's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total value of $27,463,500.00. Following the completion of the sale, the chief executive officer directly owned 1,951,705 shares of the company's stock, valued at $357,337,668.45. This represents a 7.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sharon Bowen sold 794 shares of Intercontinental Exchange stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $185.00, for a total value of $146,890.00. Following the transaction, the director directly owned 14,206 shares in the company, valued at approximately $2,628,110. This trade represents a 5.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 443,488 shares of company stock valued at $80,323,823 in the last quarter. Company insiders own 1.00% of the company's stock.

Intercontinental Exchange Trading Down 0.9%

Shares of ICE stock traded down $1.56 during trading on Friday, hitting $181.12. 2,840,944 shares of the stock traded hands, compared to its average volume of 3,015,706. The firm has a market capitalization of $103.68 billion, a P/E ratio of 34.76, a price-to-earnings-growth ratio of 2.15 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. The firm's fifty day moving average price is $181.97 and its 200-day moving average price is $173.23. 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 earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.77 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.50 billion. Intercontinental Exchange had a net margin of 23.92% and a return on equity of 13.66%. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current fiscal year.

Intercontinental Exchange Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays upped their price objective on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley upped their price objective on shares of Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler upped their price target on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. UBS Group upped their price target 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. Finally, Keefe, Bruyette & Woods upped their price target on shares of Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $194.92.

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.