CCLA Investment Management lessened its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 10.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 837,133 shares of the financial services provider's stock after selling 98,877 shares during the quarter. Intercontinental Exchange accounts for approximately 2.6% of CCLA Investment Management's holdings, making the stock its 12th biggest position. CCLA Investment Management owned approximately 0.15% of Intercontinental Exchange worth $144,447,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. REAP Financial Group LLC lifted its stake in shares of Intercontinental Exchange by 116.7% in the fourth quarter. REAP Financial Group LLC now owns 169 shares of the financial services provider's stock worth $25,000 after buying an additional 91 shares in the last quarter. Tsfg LLC raised its holdings in Intercontinental Exchange by 187.3% in the 1st quarter. Tsfg LLC now owns 158 shares of the financial services provider's stock worth $27,000 after acquiring an additional 103 shares during the last quarter. Menard Financial Group LLC bought a new position in Intercontinental Exchange in the 4th quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its position in Intercontinental Exchange by 595.8% in the 1st 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 in the last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in Intercontinental Exchange during the 1st quarter valued at $31,000. Institutional investors own 89.30% of the company's stock.
Insider Buying and Selling
In other Intercontinental Exchange news, General Counsel Andrew J. Surdykowski sold 3,848 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $179.12, for a total transaction of $689,253.76. Following the sale, the general counsel owned 48,480 shares in the company, valued at approximately $8,683,737.60. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey C. Sprecher sold 150,000 shares of Intercontinental Exchange stock in a transaction that occurred on Wednesday, June 4th. The shares were 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 in the company, valued at $376,667,570.10. This represents a 6.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 226,913 shares of company stock worth $40,671,107 in the last ninety days. Corporate insiders own 1.00% of the company's stock.
Intercontinental Exchange Trading Down 0.2%
Shares of ICE stock opened at $184.48 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.00. The company has a market cap of $105.82 billion, a price-to-earnings ratio of 35.41, a PEG ratio of 2.02 and a beta of 1.11. Intercontinental Exchange Inc. has a 1 year low of $142.29 and a 1 year high of $187.38. The firm has a fifty day moving average price of $180.71 and a 200-day moving average price of $171.37.
Intercontinental Exchange (NYSE:ICE - Get Free Report) last released 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. Intercontinental Exchange had a return on equity of 13.66% and a net margin of 23.92%. The company had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the previous year, the business earned $1.52 earnings per share. Intercontinental Exchange's quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that Intercontinental Exchange Inc. will post 6.73 earnings per share for the current year.
Intercontinental Exchange Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.0%. Intercontinental Exchange's dividend payout ratio is 39.75%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their price target 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 lifted their price objective on Intercontinental Exchange from $181.00 to $192.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. UBS Group upped their target price on shares of Intercontinental Exchange from $195.00 to $210.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Piper Sandler raised their target price on shares of Intercontinental Exchange from $180.00 to $202.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Finally, Barclays lifted their target price on shares of Intercontinental Exchange from $206.00 to $212.00 and gave the stock an "overweight" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $194.92.
View Our Latest Stock Analysis on ICE
Intercontinental Exchange Company Profile
(
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.
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