Carmignac Gestion cut its stake in shares of Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 20.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,020,110 shares of the financial services provider's stock after selling 259,504 shares during the period. Intercontinental Exchange comprises about 2.9% of Carmignac Gestion's investment portfolio, making the stock its 12th biggest position. Carmignac Gestion owned approximately 0.18% of Intercontinental Exchange worth $175,997,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently bought and sold shares of ICE. Brighton Jones LLC lifted its position in shares of Intercontinental Exchange by 51.3% in the fourth quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after acquiring an additional 1,169 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Intercontinental Exchange by 703.3% in the fourth quarter. First Trust Advisors LP now owns 124,533 shares of the financial services provider's stock valued at $18,557,000 after acquiring an additional 109,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Intercontinental Exchange by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,843,440 shares of the financial services provider's stock valued at $274,702,000 after acquiring an additional 52,346 shares in the last quarter. MML Investors Services LLC lifted its position in shares of Intercontinental Exchange by 3.0% in the fourth quarter. MML Investors Services LLC now owns 56,330 shares of the financial services provider's stock worth $8,394,000 after buying an additional 1,657 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Intercontinental Exchange by 95.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 46,178 shares of the financial services provider's stock worth $6,881,000 after buying an additional 22,557 shares in the last quarter. 89.30% of the stock is currently owned by hedge funds and other institutional investors.
Intercontinental Exchange Stock Performance
Shares of ICE stock opened at $178.14 on Tuesday. The firm has a market capitalization of $101.97 billion, a price-to-earnings ratio of 34.19, 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 business has a fifty day moving average of $182.07 and a 200 day moving average of $173.73. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $189.35.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last issued its earnings results on Thursday, July 31st. The financial services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.04. The company had revenue of $3.26 billion during the quarter, compared to analyst estimates of $2.50 billion. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The firm's quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.52 EPS. As a group, research analysts expect that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.
Intercontinental Exchange Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.1%. Intercontinental Exchange's dividend payout ratio (DPR) is presently 36.85%.
Insider Activity
In other news, CEO Jeffrey C. Sprecher sold 150,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $183.09, for a total transaction of $27,463,500.00. Following the sale, the chief executive officer directly owned 1,951,705 shares in the company, valued at $357,337,668.45. This trade represents a 7.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sharon Bowen sold 794 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $185.00, for a total value of $146,890.00. Following the sale, the director owned 14,206 shares in the company, valued at $2,628,110. This trade represents a 5.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 443,488 shares of company stock worth $80,323,823. 1.00% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have weighed in on ICE. Keefe, Bruyette & Woods boosted their price objective on Intercontinental Exchange from $183.00 to $189.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd. 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 note on Monday, May 5th. UBS Group upped their target price on Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Barclays upped their target price 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, Piper Sandler increased their price objective on Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 15th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $194.92.
Check Out Our Latest Research Report on Intercontinental Exchange
About Intercontinental Exchange
(
Free Report)
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.
Further Reading
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