Cwm LLC Acquires 7,047 Shares of Intercontinental Exchange Inc. $ICE

Key Points

• Cwm LLC increased its stake in Intercontinental Exchange by 40.9%, buying 7,047 shares to own 24,291 shares valued at $3.934 million at the end of the quarter.
• Analysts hold an average "Buy" rating on ICE with an average price target of $193.80, and several firms have set targets in the $190–$211 range.
• ICE topped quarterly expectations with $1.71 EPS and $3.14B revenue, has a market cap of about $89.9B and a P/E of 27.5, and pays a quarterly dividend of $0.52 (≈1.3% yield).

Cwm LLC lifted its stake in Intercontinental Exchange Inc. (NYSE:ICE - Free Report) by 40.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,291 shares of the financial services provider's stock after acquiring an additional 7,047 shares during the period. Cwm LLC's holdings in Intercontinental Exchange were worth $3,934,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ICE. Brighton Jones LLC boosted its holdings in Intercontinental Exchange by 51.3% in the 4th quarter. Brighton Jones LLC now owns 3,448 shares of the financial services provider's stock valued at $514,000 after purchasing an additional 1,169 shares during the period. Empowered Funds LLC increased its holdings in shares of Intercontinental Exchange by 9.0% during the 1st quarter. Empowered Funds LLC now owns 14,396 shares of the financial services provider's stock worth $2,483,000 after purchasing an additional 1,189 shares during the period. Sivia Capital Partners LLC raised its position in shares of Intercontinental Exchange by 16.2% during the second quarter. Sivia Capital Partners LLC now owns 2,078 shares of the financial services provider's stock valued at $381,000 after buying an additional 289 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Intercontinental Exchange by 27.9% during the second quarter. NewEdge Advisors LLC now owns 21,213 shares of the financial services provider's stock valued at $3,892,000 after buying an additional 4,628 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Intercontinental Exchange by 2.4% in the second quarter. Treasurer of the State of North Carolina now owns 266,496 shares of the financial services provider's stock valued at $48,894,000 after buying an additional 6,373 shares during the period. Institutional investors own 89.30% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Intercontinental Exchange from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. TD Cowen reiterated a "buy" rating on shares of Intercontinental Exchange in a research report on Friday, February 6th. Keefe, Bruyette & Woods assumed coverage on Intercontinental Exchange in a report on Wednesday, April 8th. They set an "outperform" rating and a $190.00 price objective on the stock. UBS Group restated a "buy" rating and set a $200.00 price objective on shares of Intercontinental Exchange in a research report on Monday, February 9th. Finally, Piper Sandler restated an "overweight" rating and issued a $211.00 target price (up from $195.00) on shares of Intercontinental Exchange in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $193.80.

Intercontinental Exchange Stock Performance

NYSE ICE opened at $158.76 on Thursday. Intercontinental Exchange Inc. has a twelve month low of $143.17 and a twelve month high of $189.35. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.64. The stock has a market cap of $89.93 billion, a P/E ratio of 27.51, a PEG ratio of 1.65 and a beta of 1.03. The company's 50-day simple moving average is $159.68 and its 200 day simple moving average is $160.08.

Intercontinental Exchange (NYSE:ICE - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The financial services provider reported $1.71 EPS for the quarter, topping analysts' consensus estimates of $1.67 by $0.04. The firm had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $2.51 billion. Intercontinental Exchange had a net margin of 26.23% and a return on equity of 13.99%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.52 earnings per share. As a group, research analysts forecast that Intercontinental Exchange Inc. will post 8.05 earnings per share for the current fiscal year.

Intercontinental Exchange Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 16th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 16th. Intercontinental Exchange's dividend payout ratio (DPR) is 36.05%.

Insider Buying and Selling at Intercontinental Exchange

In other Intercontinental Exchange news, CTO Mayur Kapani sold 15,213 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $155.02, for a total transaction of $2,358,319.26. Following the completion of the transaction, the chief technology officer directly owned 64,869 shares in the company, valued at $10,055,992.38. This represents a 19.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Benjamin Jackson sold 12,861 shares of the business's stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $165.00, for a total transaction of $2,122,065.00. Following the completion of the sale, the president owned 165,692 shares in the company, valued at $27,339,180. This represents a 7.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 348,418 shares of company stock worth $54,196,631 over the last three months. 0.84% of the stock is currently owned by insiders.

Intercontinental Exchange Company Profile

Intercontinental Exchange NYSE: ICE is a global operator of exchanges, clearing houses and data services that provides infrastructure for the trading, clearing, settlement and information needs of financial and commodity markets. Founded in 2000 by Jeffrey C. Sprecher as an electronic energy trading platform, the company has grown through organic expansion and acquisitions to operate a broad portfolio of assets spanning listed equities, futures and options, fixed income, and over-the-counter derivatives.

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